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The European Union proposed "AccelerateEU" to navigate the Iran war-driven crisis, which it says it could reverberate for years. The plan aims to curb energy prices and address potential fuel shortages without undermining the bloc's climate ambitions or triggering damaging competition between nations. EU leaders are set to discuss the plan at a meeting in Cyprus. Bloomberg's Oliver Crook reports from Nicosia.

Ukraine is open to delay access to the EU Common Agricultural Policy (CAP) funding initially, however, it may become part of negotiations over the next seven-year budget, which would begin in 2034, Ukraine's Deputy Prime Minister Taras Kachka says in an interview on Bloomberg TV.

Spain's Prime Minister Pedro Sánchez began his trip to China on Monday by calling on Beijing to leverage its influence internationally and help bring the wars in Iran and Ukraine to an end. Bloomberg's Balázs Penz reports.

As Hungary prepares for parliamentary elections on Sunday, Prime Minister Viktor Orban addressed the nation saying he was the safe bet and that ousting him after 16 years in office would imperil the country. Meanwhile, independent surveys show Peter Magyar's Tisza party opening up a lead. Bloomberg's Oliver Crook reports from Budapest.

Former US Ambassador to China Nicholas Burns breaks down the global stakes of the Iran conflict, the war in Ukraine, and tensions with China. Burns discusses the way Iran could reshape geopolitical power, why Russia may be gaining strategic advantages, and what's at risk if US alliances continue to weaken. He also explains why America's relationships with its allies remain its greatest competitive edge against China.

French Foreign Affairs Ministry Spokesperson Pascal Confavreux speaks to Bloomberg's Oliver Crook as the G-7 gather in France, with Rubio in attendance to sell the Iran war to skeptical allies.

European Commission Vice President Kaja Kallas speaks to Bloomberg's Oliver Crook about finding a way to end the wars in Iran and Ukraine, fully reopening the Strait of Hormuz and making sure Ukraine has the help it needs to fight Russia. They speak in France ahead of the G-7 meeting.

President Donald Trump says he's disappointed NATO did not cooperate with military operations in Iran. He speaks during a Cabinet meeting on Thursday.

As NATO scales up defense spending, Slovakia is turning into a critical ammunition powerhouse. Over the past four years, exports of defense products have risen 2,200% to 2.4 billion ($2.9 billion). Bloomberg's Daniel Hornak reports.

Former US Commerce Secretary Wilbur Ross discusses the long-term impact of the Iran war on geopolitics and global markets. He speaks with Carol Massar and Tim Stenovec on Bloomberg Television.