EU-US Trade Deal: EU governments have advanced legislation to implement the US trade pact, aiming to head off fresh tariff threats; the European Parliament still has to vote, with safeguards and a possible suspension clause if the US reimposes the agreed 15% tariff. Regulation Simplified: The EU Council backed “Omnibus X”, easing parts of pesticide rules and enabling more targeted drone use while keeping food and feed safety standards. Air Passenger Rights (Cyprus focus): Talks on reforming EU air passenger rules are nearing agreement, but Cyprus’ economic future is also being shaped by a new Parliament split between pro-business and social-protection camps. Russia Sanctions & Courts: The EU extended Russia human-rights sanctions to May 2027, while a Russian court ordered Euroclear to pay about €200bn linked to frozen assets. Ukraine EU path: Ukraine’s deputy PM rejected “lightweight” membership models, insisting on full accession, as EU ministers weigh whether and how Europe could represent itself in any future talks with Moscow. Heat and Travel Disruption: A record May heatwave is driving health alerts across parts of Europe, adding pressure to public services and travel. Markets Watch: The ECB warned the risk of a market correction is rising as stocks hit highs despite geopolitical and fiscal strains. Crypto & Banking: Hungary kept its ICC membership, while Italy’s Banca Sella moved into Bitcoin and crypto custody after Bank of Italy authorization.