Economy · June 2026

The European Union has extended sanctions against Russia for 12 months for the first time, a move that was thrown into doubt after Bulgaria’s prime minister threatened to veto the decision over the inclusion of Patriarch Kirill on the sanctions list. EU-backed green bonds risk financing Chinese clean tech in third countries, according to a report. The EU is poised to lift its ban on residual waste exports to Switzerland. The EU energy crisis is not over yet, the bloc's energy commissioner warned. The European Central Bank’s chief economist sees a prolonged period of high inflation.