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Saatja: "European Business Weekly" <[email protected]> Saaja: [email protected] Teema: European Business Weekly | 15 October 2025 Kuupäev: 2025-10-15 07:16 Tähelepanu! Tegemist on välisvõrgust saabunud kirjaga. Tundmatu saatja korral palume linke ja faile mitte avada. Show message in browser <https://cdn.flxml.eu/r-8d7fa00aed5d172569490bee9524b0ecc1155976f7a25179> 15 October 2025 EBS’ 25TH ANNIVERSARY GALA DINNER EBS will mark its 25th anniversary with a four-day 2025 edition, featuring a Gala Dinner on Wednesday, 19 November. Be part of an exclusive gathering of high-level participants, government officials, industry executives and key stakeholders, gathering together to mark this unique occasion. Fill the form <https://cdn.flxml.eu/lt-2198393486-8d7fa00aed5d172569490bee9524b0ecc1155976f7a25179> to know more or contact us <mailto:[email protected]> ! <https://cdn.flxml.eu/lt-2198393486-8d7fa00aed5d172569490bee9524b0ecc1155976f7a25179> This week's highlights * EU able to secure gas supplies this winter, even if supplies from Russian pipelines are completely cut off * ‘omnibus’ – EPP, S&D, and Renew Europe groups at European Parliament reach agreement on simplification of CSDDD and CSRD * Global Gateway Forum – European Commission announces €618 million for energy transition in Africa * European Parliament backs ‘Drone Wall’ initiative to counter Russian airspace violations * MEPs call for EU action plan to counter Russia’s hybrid warfare * Ursula von der Leyen intends to discuss allegations of Hungarian spying with European Commissioner Olivér Várhelyi * ESMA launches public consultation on technical standards for participation in CCPs * Jordan, Montenegro, Greenland and Morocco added to European list of jurisdictions with commitments to good governance standards SECTORAL POLICIES: EU able to secure gas supplies this winter, even if supplies from Russian pipelines are completely cut off On Thursday 9 October, the European Network of Transmission System Operators for Gas (ENTSOG) stressed the importance of securing adequate supplies of liquefied natural gas (LNG) to Europe, particularly from Norway, in order to meet demand while maintaining more than 30% of storage levels by the end of the 2025/2026 winter season. At 83%, the EU’s current stocking level is 10% lower than at the same time last year. According to its 2025/2026 winter supply outlook report, ENTSOG estimates that, even without a Russian pipeline, in a “reference winter scenario”, the average level of LNG stocks in Europe could remain above 30% at the end of the winter. “[This level demonstrates] the resilience of the EU gas infrastructure as well as increasing independence of the EU gas system from Russian pipeline supply”, the report points out. Nevertheless, the results indicate that greater use of EU gas stocks may be necessary. In the event that part of the LNG supply (around 1,000 GWh/d) cannot be received by the European market, a policy-based (or price-based) response to demand or sufficient gas volumes during the winter would be required. Otherwise, storage levels could fall to 16%. The report also notes that additional flexibility could be provided by storing additional volumes in Ukrainian facilities. ENTSOG also believes that the potential transit of gas via Ukraine between Member States could improve interconnectivity between the regions of Central and Eastern Europe and South-Eastern Europe. The report also analyses scenarios involving the interruption of all imports from Algeria, or high-demand events in extreme conditions (such as a cold winter, low initial storage and supply disruptions), which could limit gas deliveries to Eastern Europe. In reaction to this publication, the European Commissioner for Energy, Dan Jørgensen, commented that “the timely winter preparations, our diversification efforts and the replenishing of gas storage pay off. The EU is on track to become fully independent from Russian gas supplies”. Link to the report: https://aeur.eu/f/iwi <https://cdn.flxml.eu/lt-2198393468-8d7fa00aed5d172569490bee9524b0ecc1155976f7a25179> (Original version in French by Pauline Denys) ECONOMY - FINANCE - BUSINESS: ‘omnibus’ – EPP, S&D, and Renew Europe groups at European Parliament reach agreement on simplification of CSDDD and CSRD On Wednesday, 8 October, the ‘von der Leyen’ majority finally managed to reach an agreement on the first ‘omnibus’ text simplifying directives on due diligence (CSDDD) and corporate sustainability (CSRD). However, the Greens/EFA refused to support the compromise that was reached, which they considered to be too right wing. Right up to the last minute, the EPP threatened the three groups on this central platform that it would vote for a series of more radical simplification amendments alongside the far right. In order to preserve some elements in the CSDDD and the CSRD and avoid seeing them completely stripped of their substance, S&D and Renew Europe rallied behind a compromise proposal submitted by the EPP. Members of the European Parliament’s Committee on Legal Affairs will vote on this compromise on Monday, 13 October. Civil liability. The solution found falls in line with the European Commission’s proposal to waive corporate civil liability at the European level in the CSDDD. A rendez-vous clause was added to convince the S&D and Renew Europe groups. The scope of the CSRD and that of the CSDDD are aligned with those defined by the EU Council: 1,000 employees and an annual turnover of €450 million for the CSRD and 5,000 employees and a turnover of €1.5 billion for the CSDDD. As for the issue of climate transition plans for companies, a solution was found so that they would remain obligatory while reducing their impact on companies: companies will no longer be required to “do everything in their power” to achieve their climate plan’s objectives. Nevertheless, the S&D group reluctantly gave it the green light: Lara Wolters (S&D, Dutch) – who was rapporteur on the CSDDD from 2022 to 2024 – resigned from her role as shadow rapporteur on the ‘omnibus’ simplification text. As for the Greens/EFA, they were not able to support the final compromise. “Civil liability and the duty to implement climate transition plans are the backbone of credible sustainability legislation. By removing these, this deal empties our laws of meaning”, said Kira Peter-Hansen (Greens/EFA, Danish). Her French colleague from the same group, Marie Toussaint, lamented the line drawn by the EPP during negotiations: “The right is confirming its shameful strategy of constantly blackmailing the far right in order to get progressive forces to participate in its major operation to dismantle Europe’s social and environmental foundation”. (Original version in French by Léa Marchal) Secure your VIP Pass for the 25th Anniversary Edition of the European Business Summit! Enjoy four days of privileged access to high-level debates, premium networking opportunities, and daily VIP lunches with peers and decision-makers. With priority seating and fast-track entry, the VIP Pass ensures an unmatched Summit experience. Seats are limited, so reserve yours today. Click <https://cdn.flxml.eu/lt-2198393488-8d7fa00aed5d172569490bee9524b0ecc1155976f7a25179> here! EXTERNAL ACTION: Global Gateway Forum – European Commission announces €618 million for energy transition in Africa On Thursday 9 October, at the Global Gateway forum in Brussels, the President of the European Commission, Ursula von der Leyen, announced a new €618 million ‘Team Europe’ investment package designed to accelerate the energy transition in Africa. “Africa has everything it needs to become a global leader in clean energy – vision, talent and abundant natural resources”, she said. The funding announced is intended to support electrification projects, modernise electricity grids and increase access to renewable energy in several African countries, namely Kenya (€55 million), Uganda (€60 million), the Democratic Republic of the Congo (€90.14 million), Mauritania (€125 million), Nigeria (€20 million), Cabo Verde (€39 million), via the Zambia-Tanzania interconnection (€30 million), and Togo (€199 million). This new financial support from the EU is part of the ‘Scaling Up Renewables in Africa’ campaign, co-organised with the South African President, Cyril Ramaphosa, and coordinated with the international advocacy organisation Global Citizen. 150 companies present in Brussels at the forum, which “smells of money”. Nearly 150 companies gathered on the first day of the Global Gateway investment forum organised by the Commission. “Just as I walked in, I could smell money”, Mr Ramaphosa joked to Ms von der Leyen, before calling for European financial commitments to be “truly transformational and empowering” for Africa. “Global Gateway is based on mutual benefits”, stressed the President of the Commission. “Our initial goal was to mobilise €300 billion in five years. But today, we have already hit that target. In four years, we have already mobilised more than €306 billion”, she pointed out. Referring to a new “era of highly competitive and transactional global politics”, Ms von der Leyen called for coordinated efforts with the private sector. “To the CEOs and investors. (...) Tell us what will unlock new projects, and give you the confidence to take them forward”, she declared at the opening of the forum. Strategic partnership with the World Bank. As part of its Global Gateway investment strategy, the European Commission launched a strategic partnership with the World Bank Group on Wednesday 8 October to launch “a new generation” of connectivity projects. The first portfolio of projects includes 18 investments in Africa, Asia-Pacific and Latin America and the Caribbean. “This new framework will guide our steering, governance and monitoring of joint projects in areas such as energy, transport and digital infrastructure”, explained Ms von der Leyen. The 18 initial projects were selected for their potential to attract private capital and their expected impact on job creation, productivity and regional integration, the World Bank Group said in a press release. Among the projects selected are the Trans-Caspian transport corridor linking the EU and Central Asia (see EUROPE 13338/13 <https://cdn.flxml.eu/lt-2198393470-8d7fa00aed5d172569490bee9524b0ecc1155976f7a25179> ), the Kambar-Ata dam project in Kyrgyzstan, the Mpatamanga hydroelectric storage project in Malawi (MHSP) and the interconnection project between Zambia and Tanzania in Africa. See the list of 18 projects: https://aeur.eu/f/iuz <https://cdn.flxml.eu/lt-2198393456-8d7fa00aed5d172569490bee9524b0ecc1155976f7a25179> The Global Gateway forum also saw the signing of a series of other development projects, ranging from the implementation package for the Just Transition Partnership in Vietnam (see EUROPE 13552/20 <https://cdn.flxml.eu/lt-2198393474-8d7fa00aed5d172569490bee9524b0ecc1155976f7a25179> ) to regional electricity integration in Latin America and the Caribbean. (Original version in French by Bernard Denuit and Pauline Denys) EUROPEAN PARLIAMENT PLENARY: European Parliament backs ‘Drone Wall’ initiative to counter Russian airspace violations On Wednesday 8 October in Strasbourg, MEPs gave their backing, albeit with some reservations concerning its expected effectiveness, to the EU’s ‘Drone Wall’ initiative, as announced by President of the European Commission Ursula von der Leyen, as well as the ‘Eastern Flank Watch’ initiative, during a plenary debate on ways of responding to recent Russian violations of EU Member States’ airspace and critical infrastructure. According to the joint motion for a resolution by the EPP, S&D, ECR, Renew Europe and Greens/EFA groups, still to be voted on at the Thursday 9 October plenary session, MEPs note that the Commission’s ambitious deadline for completing the ‘drone wall’ “requires rapid implementation as part of a broader defence shield along the EU’s and NATO’s eastern flank in response to repeated Russian airspace violations”. The European Parliament will be calling on the Commission to present “a coherent plan at the European Council meeting on 23-24 October” and recognises the challenge posed by the “high cost of intercepting drones”, while calling for joint programmes to promote the development of cost-effective counter-UAV capabilities (technologies for neutralising or intercepting unmanned aerial vehicles). Russian assets frozen. The joint motion for a resolution calls on EU Member States and their G7 partners to “immediately endorse the Commission proposal to use all frozen Russian assets as a foundation for a substantial grant and loan to Ukraine, with reimbursement contingent on the future payment of war reparations by Russia, as a legally sound and financially significant way to maintain and increase EU support for Ukraine’s military needs, including counter-drone defence” (see EUROPE 13721/2 <https://cdn.flxml.eu/lt-2198393482-8d7fa00aed5d172569490bee9524b0ecc1155976f7a25179> ). Danish Minister for European Affairs Marie Bjerre condemned Russia’s actions, including airspace violations in Poland, Romania and Estonia, as well as hybrid threats. She called for a “united, clear and resolute” European response to protect citizens and support Ukraine. She highlighted EU measures and initiatives, such as the SAFE instrument, and noted that, last week in Copenhagen, EU leaders had discussed “progress in the agreed priority areas, which include air and missile defence, artillery, drones and anti-drone systems, military mobility and cyber resilience” (see EUROPE 13721/1 <https://cdn.flxml.eu/lt-2198393480-8d7fa00aed5d172569490bee9524b0ecc1155976f7a25179> ). Ursula von der Leyen spoke about the ‘Eastern Flank Watch’ and ‘Drone Wall’ projects. The latter is described as the EU’s response to the realities of modern warfare: in incidents such as those in Poland, it has been necessary to deploy very expensive systems (latest generation fighter jets) to neutralise relatively cheap, mass-produced drones. “This is absolutely not sustainable. We need a system that is affordable and fit for purpose. For swift detection, swift interception, and when needed, swift neutralisation”, said the president (https://aeur.eu/f/iud <https://cdn.flxml.eu/lt-2198393454-8d7fa00aed5d172569490bee9524b0ecc1155976f7a25179> ). She added that, although the current priority is the eastern border, the project aims to provide 360-degree protection for the whole Union, including the southern flank, and must respond to a wide range of challenges: natural disasters, international organised crime, weaponised migration and surveillance of the Russian fleet. Andrzej Halicki (EPP, Polish) welcomed the ‘European Drone Wall’ and ‘Eastern Flank Watch’ initiatives and also called for certain chemicals to be removed from the scope of the ETS (EU Emissions Trading System). “The time has come for a proposal to confiscate the €200 billion in frozen Russian assets”, said Iratxe García Pérez (S&D, Spanish). Pierre-Romain Thionnet (PfE, French) felt that “outrageous statements equating any intrusion with an act of war or calling for the shooting down of any flying object are counter-productive”. On the contrary, Valérie Hayer (Renew Europe, French) felt that the EU should “acknowledge the confrontation with Russia and step up our response”. Ms Hayer even suggested sanctioning Viktor Orbán for allegedly sending Hungarian drones into Ukrainian airspace. Terry Reintke (Greens/EFA, German) advocated, an “anti-drone defence network” on the southern border and an end to “polluting Russian fossil fuel imports”. For Danilo Della Valle (The Left, Italian), the Russian attack on Nord Stream “was in reality Ukrainian”. The group warns against “the political exploitation of air incidents to justify an arms race“. Joint motion for a resolution and amendments: https://aeur.eu/f/iu0 <https://cdn.flxml.eu/lt-2198393452-8d7fa00aed5d172569490bee9524b0ecc1155976f7a25179> (Original version in French by Lionel Changeur) EUROPEAN PARLIAMENT PLENARY: MEPs call for EU action plan to counter Russia’s hybrid warfare The European Parliament has called on the European Commission and the Council of the EU to draw up an action plan including measures to prevent and counter the escalation of Russia’s hybrid warfare against the Union in the land, air, sea and digital spheres, by adopting (by 469 votes in favour, 97 against and 38 abstentions), on Thursday 9 October, a resolution on Russia’s recent violations of the airspace of EU countries (see EUROPE 13726/9 <https://cdn.flxml.eu/lt-2198393484-8d7fa00aed5d172569490bee9524b0ecc1155976f7a25179> ). By adopting an oral amendment, the European Parliament expressed its full solidarity with Moldova as well as with Denmark, Sweden, Poland, Lithuania, Latvia, Finland, Romania, Estonia and all other Member States exposed to Russia’s military provocations and acts of hybrid warfare. The deliberate disruption of EU air traffic by Russian agents is “escalatory, risks miscalculation, endangers lives, constitutes a serious violation of applicable international norms and poses a serious threat to EU citizens and to peace and security in Europe”, according to the European Parliament. The European Parliament rejected an oral amendment by Nathalie Loiseau (Renew Europe, French) condemning Viktor Orbán’s dispatch of drones over Ukraine. The European Parliament has called on the EU Council to maintain and extend its sanctions regime against Russia and to apply a similar sanctions policy to all states that support it, including Belarus, Iran and North Korea, and to sanction Chinese entities that supply military items essential to the manufacture of drones and missiles. See the resolution: https://aeur.eu/f/iv5 <https://cdn.flxml.eu/lt-2198393458-8d7fa00aed5d172569490bee9524b0ecc1155976f7a25179> (Original version in French by Lionel Changeur) INSTITUTIONAL: Ursula von der Leyen intends to discuss allegations of Hungarian spying with European Commissioner Olivér Várhelyi On the evening of Thursday 8 October, the European Commission announced that it was setting up an internal group to examine allegations of spying by the Hungarian government on the European Commission and other EU institutions. European Commission spokesperson Paola Pinho also confirmed on Friday 10 October that Commission President Ursula von der Leyen intended to discuss the issue with European Commissioner Olivér Várhelyi “at the earliest convenience”. However, she reiterated that these were “only allegations” at this stage. A consortium of European newspapers, including the Hungarian investigative media Direkt36, revealed that Budapest attempted, through the country’s Permanent Representation to the EU, to put pressure on its nationals working in the European institutions for espionage purposes between 2012 and 2018. The current European Commissioner for Health, Olivér Várhelyi, was head of the Hungarian Representation between 2015 and 2019, the period during which the events took place. “The Commission takes these allegations seriously, given their implications for the security and integrity of its operations”, said the Commission’s human resources spokesperson, Balazs Ujvari. The exact parameters and composition of the internal group that will look into the matter have yet to be defined, he explained. For its part, the European Parliament press service stated that it “does not comment on allegations”. “As the EU’s only directly elected body, the Parliament should immediately constitute a committee of inquiry, to determine the extent of these alleged attacks against democratic institutions”, reacted the NGO Transparency International. According to the investigation published by this media consortium, a Hungarian intelligence officer disguised as a diplomat attached to the Hungarian Permanent Representation to the EU approached European officials of the same nationality, asking them in particular to leak sensitive information and influence the work of the European Commission. The media investigation “is nothing more than a smear campaign against Hungary orchestrated by foreign intelligence services”, said Hungarian government spokesman Zoltan Kovacs. (Original version in French by Léa Marchal) ECONOMY - FINANCE - BUSINESS: ESMA launches public consultation on technical standards for participation in CCPs On Thursday 9 October, the European Securities and Markets Authority (ESMA) launched a public consultation on draft regulatory technical standards (RTS) specifying the criteria for participation in central counterparties (CCPs) (see EUROPE 13718/29 <https://cdn.flxml.eu/lt-2198393478-8d7fa00aed5d172569490bee9524b0ecc1155976f7a25179> ). The aim is to provide a framework for defining admission requirements and assessing the ability of non-financial counterparties to meet margin requirements and contributions to default funds. Stakeholders have until 5 January 2026 to submit their comments. Link to the public consultation: https://aeur.eu/f/iw6 <https://cdn.flxml.eu/lt-2198393460-8d7fa00aed5d172569490bee9524b0ecc1155976f7a25179> In parallel, ESMA published on Thursday its final reports on two sets of RTS concerning the authorisation, extension of authorisation and model validation procedures for CCPs, as part of the implementation of the revision of the Market Infrastructure Regulation and Directive (‘EMIR’) (see EUROPE 13527/34 <https://cdn.flxml.eu/lt-2198393472-8d7fa00aed5d172569490bee9524b0ecc1155976f7a25179> ). This reform aims to make European clearing services more efficient and competitive by streamlining the supervisory processes. The two sets of regulatory technical standards (RTS) have been sent to the European Commission for approval. They will then be examined by the European Parliament and the Council of the EU. See ESMA’s final report on the technical standards for authorisation and extension of activities: https://aeur.eu/f/iw8; <https://cdn.flxml.eu/lt-2198393464-8d7fa00aed5d172569490bee9524b0ecc1155976f7a25179> and the final report on the standards for model validation: https://aeur.eu/f/iw9 <https://cdn.flxml.eu/lt-2198393466-8d7fa00aed5d172569490bee9524b0ecc1155976f7a25179> (Original version in French by Bernard Denuit) ECONOMY - FINANCE - BUSINESS: Jordan, Montenegro, Greenland and Morocco added to European list of jurisdictions with commitments to good governance standards On Friday 10 October, in Luxembourg, the Ecofin Council adopted the European Union’s revised ‘black’ list of uncooperative jurisdictions in tax matters and the EU’s ‘grey’ list of jurisdictions that have made commitments in terms of good tax governance (see EUROPE 13582/18 <https://cdn.flxml.eu/lt-2198393476-8d7fa00aed5d172569490bee9524b0ecc1155976f7a25179> ). While the first remains unchanged, the second has seen the addition of four new jurisdictions: Jordan, Montenegro, Morocco and Greenland. The latter is being added as an autonomous constituent territory of Denmark, which currently holds the Presidency of the EU Council. As a result, the ‘black’ list still includes 11 jurisdictions: Anguilla, Fiji, Guam, the US Virgin Islands, Palau, Panama, the Russian Federation, Samoa, American Samoa, Trinidad and Tobago, and Vanuatu. Vietnam has been removed from the ‘grey’ list. On the list since October 2023, first for its preferential tax regime, then to prevent tax base erosion and profit shifting, the country has fulfilled its commitment to implement country-by-country reporting standards for multinational enterprises. However, Jordan, Montenegro, Greenland and Morocco have joined Antigua and Barbuda, Belize, Brunei Darussalam, Eswatini, the British Virgin Islands, Seychelles and Turkey on the list. Jordan, Greenland and Morocco were singled out for prevention of tax base erosion and profit shifting. The countries have undertaken to remedy the shortcomings identified in their national country-by-country reporting (CbCR) frameworks by autumn 2026. The EU also criticises Jordan, Montenegro, Antigua and Barbuda, Belize, the British Virgin Islands, the Seychelles and Turkey for their lack of transparency regarding the exchange of information. Finally, as in February, Brunei Darussalam and Eswatini have been listed because they maintain harmful preferential tax regimes. Link to the Council’s conclusions on the list: https://aeur.eu/f/iw7 <https://cdn.flxml.eu/lt-2198393462-8d7fa00aed5d172569490bee9524b0ecc1155976f7a25179> (Original version in French by Anne Damiani) COPYRIGHT AGENCE EUROPE, OUR CONTENT IS NOT AVAILABLE FOR RE-DISSEMINATION! Agence Europe is only responsible for its own content. As current events evolve, Agence Europe sometimes has to update its content in online versions. www.ebsummits.eu <https://cdn.flxml.eu/lt-2198393492-8d7fa00aed5d172569490bee9524b0ecc1155976f7a25179> <https://cdn.flxml.eu/lt-2198393496-8d7fa00aed5d172569490bee9524b0ecc1155976f7a25179> <https://cdn.flxml.eu/lt-2198393490-8d7fa00aed5d172569490bee9524b0ecc1155976f7a25179> <https://cdn.flxml.eu/lt-2198393494-8d7fa00aed5d172569490bee9524b0ecc1155976f7a25179> Update your profile <https://cdn.flxml.eu/page/profile/eyJ0eXAiOiJKV1QiLCJhbGciOiJFZERTQSJ9.eyJzdWIiOiJyZXR1cm4vcHJvZmlsZSIsImlhdCI6MTc2MDUxMjU3Mi43NzM1ODgsImFpZCI6NDA5MTAsImNpZCI6MTIyNjAsImNhbWlkIjoyMjI2MzU4Mn0.WlTaZd5mAPJRcCsEyeIUQd1QZqNkI7ony2WNzHcVXIp4MY4Ev1-esNODwP54j0nTW71occAQgnUVASMgArF3Bw> - Unsubscribe <https://cdn.flxml.eu/page/profile/eyJ0eXAiOiJKV1QiLCJhbGciOiJFZERTQSJ9.eyJzdWIiOiJyZXR1cm4vcHJvZmlsZSIsImlhdCI6MTc2MDUxMjU3Mi43NzM1ODgsImFpZCI6NDA5MTAsImNpZCI6MTIyNjAsImNhbWlkIjoyMjI2MzU4Mn0.WlTaZd5mAPJRcCsEyeIUQd1QZqNkI7ony2WNzHcVXIp4MY4Ev1-esNODwP54j0nTW71occAQgnUVASMgArF3Bw> <https://cdn.flxml.eu/t-8d7fa00aed5d172569490bee9524b0ecc1155976f7a251790>