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

More than three years after Russia invaded Ukraine, the EU will today lay out measures to sever its last remaining energy ties with what was its biggest supplier of fossil fuels. While the bloc has massively diminished its energy imports from Moscow and weathered a painful increase in prices, imports of liquefied natural gas from the country have climbed. Energy commissioner Dan Jorgensen will announce a phased approach to stopping all gas supplies from Moscow by the end of 2027, with concrete measures to do so set to be put forward next month, we’ve learned. But much uncertainty remains, including how much support there is among the 27 member states, if a peace deal between Russia and Ukraine is on the horizon, and whether the US under Donald Trump can continue to be a reliable energy partner.

— John Ainger

What’s Happening

New Chancellor | Conservative leader Friedrich Merz is poised to be elected Germany’s next chancellor in parliament, and will kick off his first cabinet meeting focusing on measures to stimulate the economy and reduce illegal migration. We’ve taken a look at who the key players will be in the next government.

Scientists Welcome | The EU will propose a €500 million package to lure scientists as President Donald Trump slashes US funding. Commission President Ursula von der Leyen also announced plans for a seven-year “super grant” to support researchers moving to the continent, while French President Emmanuel Macron threw his weight behind the move. 

Blackout Cause | A panel of EU experts is set to be convened to find out what exactly triggered the enormous power blackout in Spain and Portugal last week and what the lessons might be for the rest of the bloc. Australia’s experience nine years ago may help provide some answers.

Losing Power | Spain’s high-voltage electricity grid suffered more power generation disruptions than previously known ahead of the country’s largest ever blackout, the government said. A third loss of power generation occurred 19 seconds before the blackout and adds to two that were previously known. 

Rising Costs | Stellantis NV Chairman John Elkann and Renault SA Chief Executive Officer Luca de Meo warned that excessive EU regulation is inflating the cost of making small cars, hurting an industry key for employment in the region.

Around Europe

Tight Race | Former centrist Prime Minister Edouard Philippe would be neck and neck with far-right National Rally leader Jordan Bardella in the race to become France’s next president in 2027, a poll of voting intentions showed. Marine Le Pen, who has a five-year ban from running for office, wouldn’t fare better.

Romanian Resignation | Romania’s prime minister resigned after a far-right opposition leader who aligned himself with Donald Trump scored a resounding first-round victory in the Black Sea nation’s presidential election. Here are the things to watch ahead of the May 18 runoff as the uncertainty causes the nation’s assets to plunge.

AfD Challenge | Germany’s main opposition Alternative for Germany party challenged a ruling by the nation’s domestic intelligence agency that classified it as a right-wing extremist movement. It said the agency’s decision targets freedom of speech and legitimate criticism of immigration policies. 

Satellite CEO | Eutelsat, the French satellite operator that Europe is trying to position as a homegrown alternative to Elon Musk’s Starlink, is replacing its CEO. Its importance as a European champion has gained urgency due to the rift between Europe and the US over Ukraine since Trump returned to the White House.

Chart of the Day

ECB Governing Council member Fabio Panetta said a new wave of protectionism could damage economies around the world. He has repeatedly warned against scapegoating globalization and said tariffs won’t solve the world’s economic challenges. That comes against a backdrop US trade policy which has forced levies on friends and foes across the world. Uncertainty has soared, according to our colleagues at BNEF.

Today’s Agenda

All times CET

• 9 a.m. The Commission and EU Council give statements on the bloc’s response to US tariffs at EU Parliament session
• 3.30 p.m. EU commissioner for energy Dan Jorgensen unveils roadmap to phase out Russian fossil fuels in Strasbourg
• European Council President Antonio Costa in Barcelona