Sanctions: Ordinance against Iran amended
Switzerland's Federal Department of Economic Affairs amended annexes to the ordinance on measures against the Islamic Republic of Iran, effective March 10, 2026. The content of the list of goods in annex 3 was also completed. These amendments update existing sanctions measures.
ECB Fines Nordea Finance Finland €2.26 Million for Reporting Breaches
The European Central Bank (ECB) has imposed a €2.26 million penalty on Nordea Finance Finland Ltd for breaching reporting requirements and the large exposures limit over 13 consecutive quarters. The breaches, classified as severe, stemmed from incorrect reporting of guaranteed receivables and deficiencies in internal controls.
UK Sanctions Enforcement: Cross-Government Strategic Approach
The UK government has published its strategic approach to sanctions enforcement, outlining key principles and the roles of various departments. This policy paper emphasizes the importance of strong compliance and details potential consequences for non-compliance.
Eurogroup Statement on Belgian Draft Budgetary Plan for 2026
The Eurogroup has welcomed Belgium's draft budgetary plan for 2026, noting its compliance with the Stability and Growth Pact. The group will continue to monitor economic and fiscal developments in Belgium and across the EU.
Eurogroup Meeting Remarks on Macroeconomic Developments and Middle East Crisis
Remarks following the Eurogroup meeting on March 9, 2026, addressed macroeconomic developments, the impact of the Middle East crisis on energy markets and inflation, and the need to accelerate the energy transition and strengthen Europe's strategic autonomy. The meeting also endorsed Belgium's draft budgetary plan for 2026.
Macroeconomic Dialogue with Social Partners on AI and Labour Market
The Council of the EU, European Central Bank, European Commission, and Eurogroup met with European social partners on March 9, 2026, to discuss the economic situation and the impact of Artificial Intelligence on the EU labour market. The dialogue focused on safeguarding EU competitiveness and social cohesion amidst geopolitical tensions and economic uncertainties.
EU Leaders Discuss Iran War, Regional Attacks, and Energy Security
EU leaders discussed the war in Iran, regional attacks, and energy security with Middle Eastern countries. The statement condemned attacks, expressed solidarity, and announced humanitarian aid for Lebanon, while reaffirming commitment to regional stability and maritime operations.
Council Calls for Greater Efforts to Combat Child Poverty
The Council of the EU has adopted conclusions calling for increased support to combat child poverty and enhance child well-being. The conclusions emphasize the economic benefits of investing in children and urge member states and the Commission to ensure adequate funding and targeted policies, aiming for five million fewer children at risk of poverty or social exclusion by 2030.
Andrés Ritter Confirmed as European Chief Prosecutor
The Council of the EU has confirmed the appointment of Andrés Ritter as the new European Chief Prosecutor for the European Public Prosecutor's Office (EPPO). His term begins on November 1, 2026, succeeding Laura Codruța Kövesi. The EPPO investigates crimes against the financial interests of the EU.
Council Recommendation on Tackling Skills Shortages
The Council of the EU has adopted a recommendation to help member states tackle labour and skills shortages in strategic sectors. This non-binding guidance aims to boost competitiveness and resilience by investing in people's knowledge and skills, addressing challenges in areas like digital technologies, health, and farming.