Crypto News: Brussels Edition: The critical list

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

The European Commission will publish a list of some critical technologies tomorrow as part of efforts to bolster economic security and address the challenge of China's rise. The catalog will be based on the transformative nature of the tech, their dual use or potential application to violate human rights. Discussions with member states will determine whether there's a risk of vulnerability and what measures may be needed, including support, partnerships or protecting the technologies to avert possible leakage of know-how. The list will pave the way for the outbound investment screening tool that the EU is discussing and the US has already put forward to control some chips, artificial intelligence and quantum computing. These technologies are expected to be on the commission's radar screen, too, as the most at risk, together with biotech, we're told.

— Jorge Valero

Aid Blocks | The prospect of increased support for Ukraine was dealt a double blow over the weekend. In Washington, a last-minute deal to avert a government shutdown was contingent on the omission of $6 billion of aid for Kyiv, while in Slovakia, Robert Fico is set to return as prime minister after campaigning on a platform to end military aid to the government in Kyiv.

Green Duty | The EU's carbon border adjustment mechanism started a first phase yesterday, with importers from six carbon-intensive industries having to report their emissions. From January 2026, those firms will be required to pay a phased-in levy aligned with the EU's emissions market to level the playing field with companies facing carbon pricing in Europe.

Tough Hearing | EU lawmakers will scrutinize former Dutch Foreign Minister Wopke Hoekstra's green credentials as he seeks to become the new climate action commissioner. The election of this fiscal hawk for the post was met with some reservations and comes amid the push to slow down the ambition of the green agenda by conservative parties.

EV Spat | Commission Vice President for Trade Valdis Dombrovskis hopes that the EU and UK will find a solution to delay the introduction of tariffs on electric vehicles shipped between them from January as agreed in the post-Brexit deal. "If the EU and Great Britain now impose tariffs on each other, it will not help our industry — only China, if anyone at all," he told the Frankfurter Allgemeine Zeitung newspaper.

Still Friends | Germany and China reaffirmed their opposition to decoupling as "the strengthening of economic relations" fosters "a win-win situation," Chinese Vice Premier He Lifeng said after talks with German Finance Minister Christian Lindner in Frankfurt. Germany stands to be the country most affected in the EU by any fallout from the EU's probe into Chinese EV subsidies.

Ankara Attack | Turkey's ministry of Interior was targeted by a suicide bomb attack on the opening day of the national parliament. The Kurdistan Workers' Party (PKK), listed as a terrorist organization by the government and its Western allies, claimed responsibility and President Recep Tayyip Erdogan stressed that the country is prepared to launch cross-border operations whenever it may be needed.

Polish Push | Polish opposition supporters jammed the streets of Warsaw yesterday, two weeks before an election pitting pro-European parties against the ruling nationalists. Protesters backing Donald Tusk's Civic Coalition poured into the Polish capital in an attempt to boost momentum and narrow the gap with the Law & Justice party.

Finnish Spinoff | Sampo is spinning off its Mandatum unit, the asset manager and life insurer whose debut on Helsinki's stock market today will be the biggest addition in almost two decades. While initial public offering activity in Europe is slowly bouncing back after more than 18 months of little activity, some firms have turned to spinoffs.

Uncomfortable Past | Tight security at the opening of a new headquarters for the Conference of European Rabbis in Munich last week reflected Germany's increasingly uncomfortable struggle with its violent past as Bavarians are preparing to vote in an election overshadowed by allegations of anti-Semitism.

London looks set to recapture the crown of Europe's biggest stock market less than a year after losing it to Paris. The gap between the two has narrowed steadily as the rally in France's luxury goods sector stalled. London has benefited from a 30% gain in oil prices in the past three months, and inflation is finally cooling, potentially enabling the Bank of England to end its 22-month policy-tightening cycle.

All times CET

6:30 p.m. Hoekstra appears before European Parliament panels
Commission President Ursula von der Leyen meets European Parliament President Roberta Metsola in Strasbourg
Energy Commissioner Kadri Simson participates in Climate and Energy Summit in Madrid

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