US-Iran Deal Watch: Trump says a “great settlement” is near and could be signed in Europe within days, with talk of reopening the Strait of Hormuz and easing pressure on global oil flows. Markets & Energy: Oil slid to multi-week lows on deal hopes, while European stocks rallied as investors priced in calmer shipping through Hormuz. EU Migration Overhaul: The EU Migration Pact takes effect, tightening border and asylum procedures with faster processing and higher return pressure—though readiness gaps and detention concerns remain. Ukraine-Russia Escalation: Ukrainian drones hit a city in Russia’s Tatarstan, forcing cancellations of public events as both sides push attacks deeper. NATO Strain: The US plans major cuts to fighter jets, warships and surveillance assets for NATO operations in Europe, raising questions about deterrence and Europe’s own defence build-up. EU Foreign Policy Fight: France and Germany press to dismantle or weaken the EEAS and curb Kaja Kallas’s role, while von der Leyen defends the service. Public Health: WHO warns Europe’s heatwaves are becoming a deadly emergency and urges stronger national heat-health plans. Tech & Cyber: Google sues a suspected Chinese cybercrime group over mass scam texts using Gemini to help build fraudulent sites. Health Innovation: GSK’s momelotinib wins orphan drug designations in the US and EU for VEXAS syndrome.