Closing summary
… and on that note, it’s a wrap for today!
EU leaders have failed to convince Viktor Orbán, Hungary’s prime minister, to drop his opposition to a vital €90bn (£78bn) loan for Ukraine as they have accused him of betrayal and acting in bad faith (15:11).
Orbán’s decision to renege on his agreement has infuriated EU leaders, because it undermines EU decision-making, at a moment when Ukraine is running out of money (15:21).
Several EU leaders made their frustration with Orbán clear (9:43, 9:56, 10:10), including the new Dutch PM Rob Jetten making his EUCO debut (9:48), but could not get him to change his mind.
European Union experts have arrived in Ukraine to assess the condition of the Druzhba oil pipeline, state energy firm Naftogaz said, in a bid to reassure Orbán about the EU’s intent to restore oil flows (10:15, 14:29).
But Ukraine’s Volodymyr Zelenskyy expressed his frustration with the further delay in unblocking the €90bn loan for Ukraine and related sanctions and accession files (15:53).
Orbán refusal to drop his opposition is widely seen in the context of the upcoming parliamentary election in Hungary (13:03), with US vice-president JD Vance expected to endorse the nationalist prime minister as he fights for his political survival (16:29).
In other news,
Several EU leaders also expressed concerns about the impact of the Middle East crisis on Europe, and in particular on energy prices (9:56, 11:09, 11:17, 11:33).
The European parliamentary trade committee has voted to progress legislation to ratify last summer’s trade deal with Donald Trump ending months of delays and paving the way for a plenary vote on the agreement (10:45).
Germany’s parliament is taking unusual action to curb fuel prices in the wake of a spike from the Iran war, proposing that petrol stations will only be able to raise prices once a day, at 12 midday (12:30).
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Europe’s biggest airlines say fuel price spike caused by Iran war will drive up fares
Transport correspondent
Europe’s biggest airlines have said the rise in fuel prices caused by the war in the Middle East will drive up fares and are advising passengers to book early.
While carriers have partly hedged the price of jet fuel, bosses said they could not keep avoiding passing on additional costs to passengers for long.
Long-haul airlines such as Air France-KLM and Lufthansa said they would be adding more flights via Asia with Gulf carriers’ hubs either shut or operating at a reduced level since the US-Israeli attack on Iran.
EasyJet dismissed any fears of imminent fuel shortages affecting flights in Europe despite concerns about supplies in parts of Asia, with Vietnamese airlines this week warning that they may reduce schedules.
Ryanair’s chief executive, Michael O’Leary, likewise downplayed immediate changes but said that if fuel price increases “drag on for six months” it would become an issue for airlines.
According to Iata’s jet fuel monitor, the price of kerosene was already 94% up on the annual average at the end of last week, and the price of crude oil rose sharply again on Thursday after escalating hostilities.
The executives were speaking in Brussels as part of Airlines for Europe (A4E), a trade and lobbying group covering 16 airline groups, including BA’s owner, IAG; Air-France-KLM; and Lufthansa.
