The European Union is targeting Russia with more sanctions over its war on Ukraine. The aim is to deprive Moscow of energy revenue through a lower oil price cap and a ban on transactions with Nord Stream gas pipelines.

Microsoft will likely sign the European Union's code of practice to help companies comply with the bloc's landmark artificial intelligence rules, its president told Reuters on Friday, while Meta Platforms rebuffed the guidelines.

Context: The European Commission on Tuesday unveiled its plans for the bloc’s 2028-2034 budget, including a so-called Global Europe fund worth €200bn. It would merge different funding strands for countries outside the EU, including humanitarian aid and development finance, as well as money to support countries who are candidates to join the bloc.

European Union member states approved the launch of negotiations with six Gulf countries as the bloc seeks to broaden its international partnerships amid tariff threats from President Donald Trump.

The European Commission set out guidelines on Friday to help AI models it has determined have systemic risks and face tougher obligations to mitigate potential threats comply with European Union artificial intelligence regulation (AI Act).

European Commission President Ursula von der Leyen has unveiled a proposal for a long-term EU budget that she says will total $2.3 trillion.