AGP Executive Report

MiCA Crypto Trading in Vaduz: RULEMATCH says it has received Liechtenstein FMA authorization to run a MiCA-compliant crypto trading platform, onboarding EEA participants via its Vaduz-based RULEMATCH Europe AG, with trading starting on an RFQ model and post-trade clearing/settlement designed for capital efficiency. EU Border Tech Update: The EU’s Entry/Exit System (EES) is fully operational across Schengen (excluding Liechtenstein, Iceland, Norway, Switzerland), and travelers are being warned to expect delays as countries iron out biometric border processes; ETIAS is still expected later in 2026. Trade Policy Signals for Industry: The US eased parts of Section 232 tariffs on agricultural equipment and selected machinery/HVAC, while keeping the broader metals protectionist structure—an outcome likely to ripple into construction and manufacturing input costs. Health & Pharma in Europe: AbbVie’s VENCLYXTO label was expanded for first-line CLL combinations across the EU plus Iceland, Norway, and Liechtenstein. Space Tech Link to Liechtenstein: A St. Kitts and Nevis life-sciences space experiment launched from Sweden with a partnership including the Center for Space and Aviation Switzerland and Liechtenstein (CSA).

Crypto Market Regulation: RULEMATCH says it has received MiCA authorization from Liechtenstein’s FMA to run a Vaduz-based crypto trading venue, with participant onboarding for EEA firms and a post-trade clearing/settlement setup. Trade Policy Shockwaves: After the Supreme Court struck down IEEPA tariffs, the US is rebuilding its tariff wall via expanded Section 301 probes (forced labor and excess capacity) plus a temporary 10% import surcharge that expires July 24. Metals Tariff Relief (Limited): Trump temporarily eased parts of Section 232 metals duties, cutting tariffs on some agricultural and industrial equipment—good for US downstream users, but leaving broader protectionism intact. Border Tech for Industry Travelers: EU Entry/Exit System (EES) is fully operational across Schengen (Liechtenstein included), and countries are still ironing out delays ahead of the later ETIAS rollout. Healthcare & Pharma: EU regulators expanded labels for AbbVie’s VENCLYXTO and Bristol Myers Squibb’s Opdivo+AVD, extending first-line options for CLL and advanced classical Hodgkin lymphoma. Liechtenstein in the Wider Economy: India’s CEPA with Oman starts June 1, and the deal explicitly builds on India’s recent EFTA pact that includes Liechtenstein.

Metals Tariffs: The U.S. temporarily eased Section 232 duties on steel, aluminium and copper derivatives, cutting tariffs on agricultural equipment (25%→15%) and expanding a 15% bracket to mobile industrial gear like bulldozers and forklifts—an effort to relieve cost pressure for U.S. farmers, construction and housing, while keeping the broader protectionist metals framework intact. Border Tech for Industry Travelers: Europe’s Entry/Exit System (EES) is fully operational across Schengen (29 countries), with biometric checks now standard at external borders; Liechtenstein is included, and the rollout is still causing “wrinkles” that could slow cross-border movement for business travel. Trade & Supply Chains: India and Oman’s CEPA kicks in June 1, expanding duty-free access for most tariff lines and boosting market access for sectors including textiles and agricultural goods—another signal of shifting trade routes that can ripple into European production planning. Green Transition Funding: Poland’s new €160m climate and energy programme is backed by Norwegian and EEA grants, with Liechtenstein, Iceland and Norway named as partners, targeting geothermal, storage, air quality and circular economy projects. Healthcare & EU Labels: AbbVie secured an expanded EU authorization for VENCLYXTO combinations in first-line CLL, with coverage extending to EU states plus Iceland, Norway and Liechtenstein.

Border Tech & Travel Ops: The EU’s Entry/Exit System (EES) is fully operational, replacing passport stamps with biometric checks for non-EU travelers across 29 Schengen countries—though Liechtenstein, Norway, Iceland and Switzerland are listed as exceptions in the coverage—so expect delays while countries “iron out wrinkles.” Trade & Market Access: India and Oman’s Comprehensive Economic Partnership Agreement (CEPA) kicks in June 1, expanding duty-free access (including textiles and agricultural goods) and adding another link to India’s growing network that already includes EFTA (with Liechtenstein). Media & Cross-Border Services: RTL Group has closed its acquisition of Sky Deutschland, extending coverage across Germany, Austria, Switzerland and Luxembourg with customer relationships including Liechtenstein. Energy & Industry Finance: The European Commission cleared €1.3bn in German support for renewable hydrogen projects tied to the EU Hydrogen Bank “auction as a service,” with eligibility extending to Iceland and Liechtenstein. Health & Pharma: AbbVie’s VENCLYXTO label was expanded across the EU plus Iceland, Norway and Liechtenstein, and Bristol Myers Squibb’s Opdivo+AVD gained EU approval for advanced classical Hodgkin lymphoma.

Space & Research: St. Kitts and Nevis’ historic suborbital life-sciences launch from Sweden included a collaboration with Swiss and Liechtenstein partners, aiming to study how gravity affects genome architecture and gene expression. Media & Telecom: RTL Group completed its acquisition of Sky Deutschland, bringing together German-speaking brands and extending coverage and customer relationships across Luxembourg and Liechtenstein, with €250m in expected annual synergies. Biotech & Pharma: The EU authorized expanded Opdivo (nivolumab) use with AVD for newly treated advanced classical Hodgkin lymphoma, while AbbVie secured an expanded VENCLYXTO (venetoclax) label for first-line CLL combinations across EU plus Iceland, Norway and Liechtenstein. Energy & Industry: Germany received EU approval for €1.3bn green hydrogen support via renewable hydrogen projects, with funding aimed at electrolyzer capacity and delivery into hydrogen network backbones. Green Transition Funding: Poland signed a €160m programme for climate and energy acceleration financed by Norwegian and EEA grants, explicitly partnering with Iceland and Liechtenstein. Digital Borders: Europe’s EES is fully operational across Schengen, with ETIAS expected later in 2026—relevant for cross-border mobility and logistics planning. Trade Links: India and Oman’s CEPA starts June 1, and India’s broader trade push includes EFTA coverage that already includes Liechtenstein.

Media & Telecom Deal: RTL Group has completed its €68m acquisition of Sky Deutschland, bringing together RTL, RTL+, Sky and WOW brands and about 12.3m paying subscribers; the deal includes customer relationships in Luxembourg, Liechtenstein and South Tyrol, with €250m annual synergies targeted within three years. Trade & Industry Links: India and Oman’s CEPA kicks in June 1, expanding duty-free access across 98% of Oman’s tariff lines and boosting exports in textiles and agricultural goods; the pact also adds services and investment momentum. Border Tech for Business Travel: Europe’s ETIAS is expected only in late 2026 (not yet for most trips), with a €20 fee and a dependency on the fully rolled-out EES system. Green Energy Funding: The European Commission cleared €1.3bn of German state support for renewable hydrogen projects via the Hydrogen Bank “auction as a service” route, aiming to back up to 1,000 MW of electrolyser capacity. Healthcare & Manufacturing Supply Chains: AbbVie secured an expanded European Commission label for VENCLYXTO combinations in first-line CLL, with coverage extending to Liechtenstein and other EEA states. Mobility Infrastructure: Volvo says its EV drivers will access Tesla Superchargers across 29 European countries via the Volvo app starting Q4 2026, including Liechtenstein.

India–Oman Trade: India and Oman’s CEPA kicks in June 1, with duty-free access for nearly all Oman tariff lines and a boost expected for textiles and agricultural exports, plus wider services and investment links. EU Border Tech: ETIAS is still not something most travelers need to worry about yet; it’s tied to the fully working EES system, which is now live across Schengen, with ETIAS expected in late 2026. Hydrogen & Energy Projects: The European Commission cleared €1.3bn in German state support for renewable hydrogen, aiming to scale electrolyzer capacity and feed hydrogen into major network backbones, with Iceland, Liechtenstein and Norway included in the scheme. Liechtenstein in Pharma & Finance: AbbVie’s expanded VENCLYXTO label for first-line CLL now covers EU states plus Iceland, Norway and Liechtenstein, while a Liechtenstein-and-Switzerland-backed tokenization model for critical minerals highlights the country’s role in modern asset infrastructure. Green Transition Funding: Poland secured a €160m green transition programme financed via Norwegian and EEA grants, with Liechtenstein among the long-term partners. EV Charging Roaming: Volvo EV drivers will gain access to Tesla Superchargers across 29 European countries via the Volvo app starting Q4 2026, including Liechtenstein.

India–Oman Trade: India and Oman’s Comprehensive Economic Partnership Agreement (CEPA) kicks in June 1, with 98.08% of Oman’s tariff lines getting duty-free access for India—aimed at boosting exports in textiles and agricultural goods. EU Border Tech: Europe’s Entry/Exit System (EES) is now fully live across Schengen, and the rollout matters for the next step, ETIAS, expected later in 2026. Green Hydrogen Finance: The European Commission cleared a €1.3bn German support scheme for renewable hydrogen projects, including electrolyser capacity and supply into hydrogen networks, with Iceland, Liechtenstein and Norway included in the eligible partner set. Liechtenstein in the Pharma Supply Chain: AbbVie’s VENCLYXTO label expansion for first-line CLL combinations now covers EU states plus Iceland, Norway and Liechtenstein. Climate & Industry Risk: A deadly spring heat wave is smashing European temperature records, raising operational and safety concerns for energy, transport and manufacturing. Energy Infrastructure Partnerships: Volvo EV drivers will gain access to Tesla Superchargers across 29 European countries via the Volvo app starting Q4 2026. Circular Transition Funding: Poland’s €160m green transition programme is backed by Norwegian and EEA grants, with Iceland and Liechtenstein among the long-term partners. Digital Assets & Commodities: A Liechtenstein-linked tokenization model is pitching direct commodity-backed ownership for investors, tying critical minerals demand to new market infrastructure.

Trade Policy Shock: New reporting says the US, EU and China are tightening trade with reciprocal tariffs, with the US average tariff rate hitting 11.8% in early April 2026 and a new tiered metals tariff that can reach 50% on high-metal-content imports—raising pressure on European industry supply chains. Border Tech for Liechtenstein: Europe’s Entry/Exit System (EES) is fully live across all 29 Schengen countries, including Liechtenstein, with 45M+ crossings processed, about 24,000 refusals, and 600+ security risks flagged; ETIAS is still expected in late 2026. Green Hydrogen Funding: The European Commission cleared €1.3bn of German state support for renewable hydrogen projects via the EU Hydrogen Bank “auction as a service,” targeting up to 1,000 MW electrolyzer capacity and 10M tonnes of renewable hydrogen. EV Charging Deal: Volvo says its drivers will access Tesla Superchargers across 29 European countries via the Volvo app from Q4 2026, including Liechtenstein. Digital Assets & Commodities: A Liechtenstein-linked tokenization push highlights commodity-backed tokens stored in Liechtenstein and Switzerland, aiming to modernize critical-minerals investment access. Health Label Update: AbbVie’s VENCLYXTO expanded EU label for first-line CLL combinations now also covers Iceland, Norway and Liechtenstein. Energy/Climate Cooperation: Poland’s €160m green transition programme is funded through Norwegian and EEA grants with a partnership that includes Liechtenstein and Norway.

Green Hydrogen Push: The European Commission cleared a €1.3bn German support scheme for renewable hydrogen projects, backing up to 1,000 MW of electrolyser capacity and linking output to hydrogen backbone and core networks. EV Charging Deal: Volvo says from Q4 2026 its drivers in 29 European countries—including Liechtenstein—can find, navigate and pay for Tesla Superchargers via the Volvo app, adding access to a fast-charging network. CLL Treatment Update: AbbVie won an expanded European Commission label for VENCLYXTO in first-line chronic lymphocytic leukemia, extending use in combinations (including for EU states plus Iceland, Norway and Liechtenstein). Green Transition Funding for EEA Partners: Poland secured a €160m climate and energy programme financed by Norwegian and EEA grants, with Liechtenstein and Iceland named among long-term partners. Tokenization in Liechtenstein: A podcast piece highlights Metals.io’s commodity-backed token model, with physical commodities stored in secure vaults in Liechtenstein and Switzerland. Cross-Border Mobility Rules: EU travel changes are in focus as Spain calls for rethinking the 90-day Schengen rule for British visitors, while Etias planning continues with implementation not expected before 2027. Industry & Trade Context: Mercosur’s push beyond South America accelerates via new FTAs with EFTA (including Liechtenstein) and the EU, with more talks underway.

Green Hydrogen & Energy Policy: The European Commission cleared a EUR 1.3bn German support scheme for renewable hydrogen, aimed at up to 1,000 MW of electrolyser capacity and linking production to hydrogen backbone infrastructure that also reaches buyers across the EU/EEA, including Liechtenstein. Green Transition Funding: Poland secured a 160m euro programme under Norwegian and EEA grants to accelerate climate, energy, nature and circular-economy projects, with Liechtenstein and Norway named as long-term partners. EV Charging Partnerships: Volvo says from Q4 2026 its drivers will be able to find, navigate and pay for Tesla Superchargers across 29 European countries via the Volvo app, including Liechtenstein. Biotech in Transplant Care: Hansa Biopharma reported 90% one-year graft failure-free survival for Idefrix (imlifidase) in highly sensitised kidney transplant patients, supporting full approval pathways in Europe. Finance & Commodities Tokenization: A Liechtenstein-and-Switzerland-backed model for tokenizing physical critical minerals and commodities is gaining traction as institutions look for modern market infrastructure. Cross-Border Mobility Rules: EU/UK travel systems keep shifting: Etias is still not expected before 2027, while the EU’s 90-day Schengen rule for British visitors faces renewed calls for change.

EU Border Tech: ETIAS is the next EU travel permit for visa-free third-country travellers (including UK citizens), but the big takeaway is timing: it won’t be needed before 2027, and it hinges on the EU entry-exit system (EES) being fully operational after rollout delays. Green Energy Funding: The European Commission cleared €1.3bn of German state support for renewable hydrogen projects, aimed at up to 1,000 MW of electrolyser capacity and up to 10m tonnes of renewable hydrogen, feeding into the Danish Hydrogen Backbone. Green Transition Grants (EEA/Norway/Liechtenstein): Poland has signed a €160m climate-and-energy programme financed by Norwegian and EEA grants, with Liechtenstein and Iceland in the long-term partnership, targeting geothermal, storage, air quality, ecosystem protection and circular economy. Charging Infrastructure (Liechtenstein in the mix): Volvo EV drivers will get access to Tesla Superchargers across 29 European countries via the Volvo app from Q4 2026, including Liechtenstein. Life Sciences: Pharming won EU marketing authorization for Joenja (leniolisib) for APDS, while Hansa Biopharma’s Idefrix study reports 90% one-year graft failure-free survival in HLA-incompatible kidney transplants. Industry Finance/Assets: A Liechtenstein-and-Switzerland-backed tokenization platform for physical commodities is highlighted as regulators and institutions move toward more formalized tokenized-asset infrastructure.

Green Transition Funding: Poland has secured a €160m climate and energy programme funded by the Norwegian and EEA Grants, with Liechtenstein, Iceland and Norway as long-term partners; priorities include geothermal, energy storage, air quality, ecosystem protection and circular economy, with first open calls due in Q3–Q4 2026. Hydrogen & Regulation: The European Commission cleared €1.3bn of German state aid for renewable hydrogen projects, using an “auction as a service” mechanism that also covers Iceland and Liechtenstein; separately, Norway warned the EU methane rules could disrupt oil and gas output and even raise upstream emissions. EV Charging Access: Volvo EV drivers will be able to find, navigate and pay for Tesla Superchargers via the Volvo app across 29 European countries starting Q4 2026, including Liechtenstein. Finance & Stability in Vaduz: Finance Forum Liechtenstein in Vaduz drew 450+ executives as PM Brigitte Haas stressed stability, continuity and flexibility amid regulation, geopolitics and talent competition. Trade & Market Links: Mercosur is moving beyond South America, signing FTAs with EFTA (including Liechtenstein) and the EU, with Canada expected next—an opening that could reshape supply chains for European industry. Digital Assets & Commodities: A Liechtenstein-backed tokenization model for physical commodities is highlighted as institutional-grade infrastructure for critical minerals and energy transition demand.

Liechtenstein Finance: Vaduz hosted Finance Forum Liechtenstein with 450+ leaders, where PM Brigitte Haas stressed stability and continuity for the financial sector amid regulation, geopolitics, tech change and talent competition. Green Hydrogen & EU Funding: The European Commission cleared €1.3bn German state support for renewable hydrogen projects, using an “auction as a service” route that also covers EU27 plus Iceland, Liechtenstein and Norway. EV Charging Access: Volvo says its drivers will be able to find, navigate and pay for Tesla Superchargers via the Volvo app across 29 European countries from Q4 2026, with Liechtenstein included. Rare Disease Pharma: Pharming won EU marketing authorization for Joenja® (leniolisib) for activated PI3K delta syndrome, with first European launch expected in Germany in Q3 2026 and access across EU27 plus Iceland, Liechtenstein and Norway. Critical Minerals Tokenization: A Liechtenstein-and-Switzerland-backed tokenization model for physical commodities (gold, uranium, rare earths) is pitched as a way to modernize ownership and reduce intermediaries. Energy Policy Watch: Norway warned the EU methane rules could disrupt oil and gas output and even raise upstream emissions, despite the regulation’s climate goals.

Green Transition Funding: Poland has signed a climate and energy programme worth €160m, backed by Norwegian and EEA grants, with Liechtenstein and Iceland named as long-term partners; priorities include geothermal, energy storage, air quality, ecosystem protection and a circular economy, with first proposal calls due in Q3–Q4 2026. EV Charging Interop: Volvo says its drivers will be able to find, navigate to and pay for Tesla Superchargers via the Volvo app across 29 European countries from Q4 2026, including Liechtenstein—boosting fast-charging access beyond Tesla-only use. Hydrogen Support: The European Commission cleared €1.3bn of German renewable hydrogen aid for projects that missed an earlier European Hydrogen Bank auction, using an “auction as a service” route that also covers Iceland and Liechtenstein. Finance Sector Stability: Liechtenstein’s PM Brigitte Haas told finance leaders in Vaduz that stability and continuity are key as regulation, geopolitics and talent competition reshape the sector. Cross-Border Policy Impact: EU visa rules for Ethiopians were eased, with Liechtenstein included via Schengen-aligned procedures—another reminder how EU decisions ripple into local administration. Trade & Partnerships: Coverage of India’s Nordic push repeatedly cites the India–EFTA TEPA involving Liechtenstein, alongside new cooperation themes like green tech, digital infrastructure and energy security.

Ukraine Diplomacy: 50 UN member states, including Liechtenstein, condemned Russia’s intensified attacks on civilians and Ukraine’s critical energy infrastructure, warning threats to diplomatic institutions must stop. Charging Networks: Volvo EV drivers in Europe will get easier access to Tesla’s Supercharger network—over 20,000 sites across 29 countries—via the Volvo app starting Q4 2026, including Liechtenstein. Green Hydrogen Finance: The European Commission cleared Germany’s €1.3bn renewable hydrogen support, using an “auction as a service” route that also covers EU partners including Liechtenstein and Norway. UK Border Rules: UK authorities are reiterating a hard line on returning travellers bringing banned meat and dairy from the EU, with fines up to £5,000 and confiscation/destruction for undeclared items. India–Nordics Momentum: Modi’s Nordic push—anchored by the India-EFTA TEPA that includes Liechtenstein, Norway, Iceland and Switzerland—keeps shifting toward green tech, AI and Arctic-linked cooperation after the Oslo summit. Local Finance Focus: Liechtenstein’s PM Brigitte Haas told finance leaders stability and continuity matter as global change accelerates.