EU Carbon Market Reform: The European Commission has unveiled a major overhaul of the EU Emissions Trading System, easing the pace of emissions tightening from 2031 and extending free allowance support for longer—tied to companies’ climate investment plans—while critics warn it could weaken the system and endanger EU targets; alongside this, the EU sets a new goal for electricity to reach 46% of energy consumption by 2040, aiming to cut fossil-fuel import spending by €260bn annually. Liechtenstein in the ETS Orbit: The ETS applies across EU states plus Iceland, Liechtenstein and Norway, and is linked with Switzerland’s ETS—making the reform directly relevant for Liechtenstein’s carbon-cost and competitiveness debate. Swiss Banking Oversight: Three years after Credit Suisse’s collapse, Switzerland is pushing to strengthen FINMA’s powers, including the ability to fine and publicly name banks that break rules, but resistance is building in parliament amid long-running fights over how much federal regulation the banking sector needs. US Travel and Ideology Policy: The US State Department announced a new ban on “far-left” nationals, framed as part of Trump’s NSPM-7 enforcement, with broader steps to criminalize leftist ideology and tighten entry rules. US Diplomatic Appointment: Veteran diplomat Yuriy R. Fedkiw took over as US Consul General in Mumbai on July 7, previously serving in Bern overseeing relations with Switzerland and Liechtenstein. Trade Talks With Liechtenstein Listed: New Zealand’s FIT partnership meeting highlighted trade barrier reduction and included Liechtenstein among the 16 partner countries.