EU summit ends without budget deal; new talks set for November 26
The European Union summit entered its second day in Brussels on Friday, with leaders failing to reach an agreement on the bloc's 2028-2034 budget and scheduling an extraordinary meeting for November 26. Ukrainian President Volodymyr Zelensky joined discussions on Ukraine and immigration. The Multiannual Financial Framework dominated the first day, with Council President Antonio Costa pushing for a deal by year-end. Italy and others prioritize content over deadlines, while France's potential far-right presidency under Marine Le Pen threatens significant budget contribution cuts. Energy debates centered on reforming the Emissions Trading System to stabilize carbon prices, though some nations fear weakening climate policy. The summit also addressed migration and geopolitical instability affecting oil and gas prices.