NATO & Ukraine: NATO allies are scrambling to replace U.S.-based capabilities as Washington reshapes what it keeps ready for rapid European crisis use, pushing more defence spending and faster force planning. EU Budget & China: EU leaders in Brussels will tackle Ukraine support, a tougher line on China, and the next €2 trillion long-term budget as “macroeconomic imbalances” rhetoric circles back to Beijing. Middle East Energy Shock: A U.S.-Iran framework deal is set to reopen the Strait of Hormuz and end hostilities, easing pressure on Europe’s energy outlook—though nuclear issues remain unresolved. Markets: European shares are expected to open lower on Fed rate concerns, even as investors watch Iran deal details. Migration Crackdown: The European Parliament backed stricter return rules, including deportation “return hubs” outside the bloc, drawing sharp criticism over safeguards. Tech Sovereignty: Brussels is reacting to the U.S. move restricting access to advanced AI models, arguing Europe must build and scale its own critical tech. Trade & Deals: EU and India are moving toward a major free trade agreement signing by end-2026, while lawmakers also cleared multiple trade agreements to boost exports. Business & Travel: Wizz Air plans Starlink WiFi on flights from 2027, and KLM’s new A350 rollout faces delays as business-class certification is finalized.