Crypto News: Brussels Edition: Buyers' cartel

Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union.

Europe is getting its act together in a bid to both lower energy bills and ensure stable gas supplies after Russia cut flows to the region, Commission Vice President Maros Sefcovic told us in an interview. Next month, the EU will open its first tender where businesses and governments can join forces as a buyers' cartel to reach out to global suppliers. It's a goal that has long proved elusive for the 27 member states, each with its own companies responsible for meeting national demand. The price Europe pays for its energy has become a crucial node in the fightback against China and the US on trade, with domestic industry still grappling with prices many times higher than before Russia's invasion of Ukraine. Sefcovic expects the first deals through the European energy platform to be clinched around June, in time to help fill storage before the next heating season.

— John Ainger and Ewa Krukowska

Germany Slammed | The European Parliament won't re-open the deal struck last year to effectively ban new combustion engine cars after 2035, according to one of its key architects. Pascal Canfin, chair of the environment committee, said that German Chancellor Olaf Scholz risked undermining the whole green deal.

Oil Cap | The EU should halve the $60 price cap on Russian oil this month and further squeeze Moscow's ability to fund the war in Ukraine, Estonia's foreign minister said. Urmas Reinsalu told us in an interview that the bloc should also intensify sanctions on Russian banks and its nuclear power industry.

Battle Lines | Battle lines are forming for the European Central Bank's interest-rate decision next week, with one official calling for a whole campaign of new hikes. Austria's Robert Holzmann, possibly the bank's most hawkish policymaker, shook bond markets by speculating that next week's move will be just the first of four 50 basis-point increases.

French Strikes | French unions say they'll bring the country to a halt today with large-scale strikes and marches against President Emmanuel Macron's plan to raise the retirement age. It will be the sixth such protest day against Macron's legislation. Recent polls suggest a majority of French people oppose the plan to increase the age to 64 from 62.

40% Women | Spain's government will seek to pass a gender-parity law, making it mandatory for corporate boards to be composed of at least 40% women. A similar quota will be imposed on the government cabinet. Currently, 14 of the 22 ministers are women, and all three deputy prime ministers are female.

French Citi | Citigroup is building a new trading floor in Paris as the Wall Street giant prepares to nearly double its staff in the French city. The expansion comes as banks continue to grapple with life after Brexit, which forced them to adjust operations to ensure they were trading European assets within the 27 countries that remain in the EU.

Market Insulated | While the northern tier of mainland Europe is set to see unusually low temperatures, the market seems to be shrugging off a potential increase in gas consumption — at least for now. Still, there's a chance that gas networks in the region could be pressured in the coming days, with strikes at EDF's hydropower units adding to the strain.

Russian Transfers | A large amount of Russian oil continues to be transferred between tankers just a few miles off the coast of Spain. Authorities recently wrote to local firms reminding them the activity is prohibited. Here's what's happening out at sea.

Michelin Guide | The dining scene at the top of the French food chain is shrinking. This year there are 29 three Michelin starred restaurants in France, down from 31 last year. And there's only one new restaurant awarded the top ranking in the publisher's latest guide for the country.

Dutch vegetable output is set to rebound, after high energy costs cut tomato production by about 90% this winter. Better weather, longer daylight hours and lower energy prices have allowed Dutch greenhouses to resume full operations before harvesting approaches next month, according to industry group Glastuinbouw Nederland. That should ease a deficit that's emptied supermarket shelves across Europe.

All times CET.

12:30 p.m. German Chancellor Scholz, Albanian Premier Edi Rama hold joint news conference after talks in Berlin
4 p.m. Commission President Ursula von der Leyen visits Canadian military base
6 p.m. NATO General Secretary Jens Stoltenberg, Swedish Prime Minister Ulf Kristersson hold press conference in Stockholm
6:15 p.m. Von der Leyen, Canadian Prime Minister Justin Trudeau press conference in Ottowa
11 p.m. Von der Leyen delivers an address to a joint session of the Canadian Parliament
Commission Vice President Vera Jourova in New York for the 67th Commission on the Status of Women
Internal Market Commissioner Thierry Breton delivers a keynote speech at the 6th Industrial Forum Plenary meeting
Energy Commissioner Kadri Simson holds an informal discussion on REPower EU at the solar CEO forum