Goldman’s Natasha de la Grense summed it up well this morning: “Money was waiting on the sidelines to buy luxury for a de-escalation play – that feels premature with three misses in three days.” 

Disappointments from Kering and Hermès, both of which fell short of analyst estimates, reinforced the view that the industry of fine wine, overpriced shirts, shoes, belts, and designer bags, is not yet out of the woods and sent the Goldman Sachs EU Luxury Goods Index (GSXELUXG) down more than 4%. 

Gucci’s turnaround appears to be faltering, with first-quarter revenue plunging 8% – nearly double the expected decline as the US-Iran conflict hit Middle East demand and tourism. 

The conflict started late in the first quarter, resulting in an 11% sales drop in the Middle East (about 5% of revenue) and shaving roughly 1 percentage point off Kering’s overall sales. 

Shares of Kering in Paris trade down as much as 10%, leaving them down about 16.5% on the year. 

Also in the luxury space, Hermès missed expectations in the first quarter, with sales up 5.6% at constant exchange rates versus the Bloomberg Consensus estimates of 7.44%. This miss sent shares in Paris spiraling down by 10%, leaving them down 23% on the year.

Hermès’ weakness was similar to Kering’s, largely due to the Middle East Conflict. Sales in the region fell 5.9%, while France declined 2.8%, as lower tourism spending weighed on results, particularly due to fewer Middle Eastern shoppers visiting stores across France, Switzerland, and the UK. Italy was also affected, but not as much.

Both earnings results add to mounting evidence that the war is hitting luxury demand more broadly.

Natasha at Goldman outlined six points of what her team learned today about luxury stock earnings: 

Taking a step back from this morning’s large share price moves in Luxury, what have we actually learnt from Q1 prints? Most companies are talking to a -100-150bps headwind in the quarter from events in the Middle East which is not too surprising but implies that underlying growth is still unexciting, particularly when you consider easier comps vs Q4. Areas of prior strength are still very solid (US, jewellery) and, on the positive side, the consumer is responding to leather newness in certain pockets. However, there is no real step change in the overall demand backdrop (aspirational remains weak) and so no reason to own this sector at large. Money was waiting on the sidelines to buy luxury for a de-escalation play – that feels premature with three misses in three days.

Hermes was the biggest surprise for me today. It seems this group’s exposure to tourism is higher than many of us had realised (>50% of sales in France), while wholesale was impacted by not just Travel Retail but also lower deliveries to concessions in the Middle East. On the positive side, space contribution will pick up through the year – Hermes didn’t say inventory had been held back ahead of store openings but did remind us Leather production can be lumpy, guiding for improved performance sequentially and reiterating FY guidance.

I still think the structural bear case on Hermes is overstated while waiting lists still exist and second hand bags are priced at a premium. And, with no change to outlook, consensus likely stays at 9% for FY26 – bang in line with the pre-covid average meaning this company is still “doing what it says on the tin”. That said, I appreciate there was nothing in the print to disprove the bears today. China is where we have heard most concern on the brand – largely due to second hand market headwinds (where there is more authentication, high supply and price premia have come down). To be fair, Hermes’ slight growth in China isn’t bad vs peers (Kering cluster down mid-teens, LVMH cluster flat) particularly considering the tougher comp. Bears also point to the non-Leather slowdown today as a sign of softer global brand momo – again this is hard to disprove, although they did flag on the call that RTW and shoes are quite geared to ME and tourism.

Meanwhile, I am less surprised by the move at Kering today. Unlike at Hermes, positioning was not short, and arguably the print raises more questions on FY delivery. Speaking with investors this morning, the main questions being raised are: 1) is the US improvement really a sign that the Gucci turnaround is working, or simply a function of macro (local wealth effects). Kering said that all brands improved in the US, with strength driven by higher end cohorts rather than this being broad based. In addition Gucci brand was down double digits in all other regions, suggesting global brand momo is still poor; 2) is FY26 guidance of top line growth across all brands achievable considering Gucci retail -9% in Q1, current trading for the group flat (consensus Q2 group +2%), ongoing conflict in the Middle East and a large store closure program; 3) was there a soft warning on margins in here? On the call, the CFO reiterated an “ambition” to grow margins but introduced the idea of stable margins even without growth.

Previously, investors told us they didn’t want to be short Kering ahead of the CMD but there is a growing view today that management will have to concede the top line recovery will be back-end loaded and, without top line, any margin story is hard to back. I’d still prefer to wait post CMD before putting on the short as I expect Mr de Meo will come across well once again and the headline on MT margins could sound good. Middle East would have been a credible reason to step away from top line guidance last night – the fact they didn’t arguably speaks to confidence in brand strategy presentations to come.

Bottom line: More earnings cuts for Luxury. It is still too early to go back to this sector with both limited visibility on how long conflict lasts and also likely knock-on impacts even after a ceasefire (rising inflation impacting aspirational demand recovery). Our flow has been better to sell in Luxury all year, driven by LOs. We think that investor base needs line of sight on a return to mid-single-digit growth before considering stepping back into this space.

GSXELUXG is down 4% this morning on dismal earnings from Kering and Hermès, and the index has been in an overall bear market since its 2025 peak. The index has traded sideways over the last five years.

Luxury was already under pressure before the conflict because of a tough economic backdrop, but the conflict in the Middle East made things a whole lot worse. The good news is that the US and Iran are agreeing to extend a truce, according to AP News, as talks of a peace deal appear promising.

Authored by Rex Widerstrom via The Epoch Times (emphasis ours),

While managing to avoid Australia’s under-16 social media ban, the global game creation platform Roblox has moved to introduce restricted accounts for children and teenagers.

A 7-year-old teenage boy looks at a photo screen with Roblox, a social media networking app that will not be age-restricted in Sydney, Australia on Dec. 7, 2025. George Chan/Getty Images

The move also comes in the wake of a lawsuit from Los Angeles County alleging it does not carry out adequate moderation and that its age-verification systems are not fit for purpose.

The suit claims that, as a result, young people were exposed to sexual content, exploitation, and online predators while playing the game.

It joined more than 60 other actions brought by players or their parents, the majority from families in the United States.

Roblox founder and CEO, David Baszucki, announced the changes online, saying an update to the platform will bring age checks, account-level defaults, content ratings, ongoing moderation, and expanded parental controls together into a “unified framework for younger users.”

“Based on our selection criteria, we believe age-checked users under 16 will have access to the vast majority of their favourite games at launch. Age-checked users 16 and older will not see any change to their Roblox experience,” Baszucki said.

With over 151 million active players every day, Roblox has become one of the most popular online platforms ever.

Users will now be sorted into one of three groups: Kids’ accounts (ages 5 to 8), Select accounts (ages 9 to 15) and those aged 16 and above, who will have access to the standard Roblox account.

Users between the ages of five and eight will be assigned to a Kid’s account by the platform’s systems, either based on a verified parent or its worldwide age-check technology, which includes facial recognition. They will be limited to games with a “minimal” or “mild” content maturity label, and communication will be disabled by default.

A screenshot of the different Roblox editions available depending on age group. Screenshot/Roblox website

Roblox Select accounts will be able to access games with content maturity labels up to and including “moderate” and chat room functions will be gradually introduced with safeguards, allowing them to chat with family and friends or those that are a similar age.

Each of the two new levels will have a distinct background colour across the app to indicate the account type.

Roblox Chief Safety Officer Matt Kaufman told GamesBeat that there should be coordination between platforms.

“There has to be some coordination, some minimum bar we expect all companies to clear when you involve kids and teens. The reality is, they’re just jumping from platform to platform. That’s normal. I have two kids who have grown up online. It’s just what they do.”

Despite the action against it in the United States, Roblox was not among the platforms Australia’s eSafety Commissioner said she would be investigating for potential non-compliance with Australia’s social media ban.

Those were Facebook, Instagram, Snapchat, TikTok and YouTube, all of which are currently restricted platforms under the law, which has now been in place for 4 months.

Government Welcomes Changes

Meanwhile, Australian Communications Minister Anika Wells welcomed the Roblox announcement. She has previously met with representatives of the platform and expressed concerns over graphic content and reports of grooming.

“We made it clear to Roblox that something had to be done,” she told journalists, “and I welcome these steps towards stronger safety measures on their platform for under-16s, not just in Australia, but globally. Kids should be able to play their favourite games without being exposed to harmful content.

“We will closely watch the rollout of Roblox’s changes to make sure they create a meaningful difference to the experience of young Australians on their platforms.”

She dismissed concerns that young people have continued to circumvent the restrictions—including by reportedly drawing on facial hair—saying it’s no surprise.

“There isn’t 100 percent effectiveness for the law against murdering people in this country; people still murder [yet] no one is making an argument that we shouldn’t have a law against murdering people in this country,” she said.

“We’ve always said cultural change takes time, and we will not get a 100 percent strike rate, or anything like it, for any amount of time shortly after the ban comes in.

“The law is important because it sets a cultural standard.”

This is quite the ambitious headline revealing the latest ‘plan’ for Hormuz to come out of Europe, as it sits on the sidelines watching the US get potentially bogged down in the region following a month of heavy airstrikes on Iran: Europe drafts postwar plan to free up Strait of Hormuz without US, WSJ reports.

This is apparently a plan for after the main crisis is over, amid the strait still being blockaded (with the each warring side insisting it is they in control of the strategic chokepoint waterway). It seems the main idea is to eventually take the United States out of the equation, allowing only for the ‘neutral’ countries to free up and clean the Hormuz Strait.

Both the Iranians & Americans still step aside & tiny French warships will move in?

But the whole thing is very strange – on the one hand, it purports to keep one of the key belligerents, namely the United States, at bay – while on the other envisioning European/NATO military ships engaged in freedom navigation operations, including some mine-clearing.

For example, there is this line from the Journal report: “French President Emmanuel Macron said Tuesday the plan is for an international defensive mission that doesn’t include the ‘belligerent’ parties, meaning the US, Israel and Iran. European diplomats familiar with the plan say European ships wouldn’t be under American command.”

According to a Newsquawk summary of the WSJ main highlights: 

—European countries are putting together a plan for a broad coalition of countries to help free up shipping through the Strait of Hormuz, including sending mine-clearing and other military vessels. But the plan would only come after the war and may exclude the US.

—Some differences must still be worked: French diplomats think that any US involvement in the operation would make it less palatable to Tehran, while British officials worry that not including the Americans will anger Trump and limit the operation’s scope.

—The plan has three broad aims:

1) put logistics in place to ensure the hundreds of ships currently stuck in the strait can leave.

2) Employ a major demining operation to clear the way for a far larger number of ships to use a broader part of the strait.

3) Removing Iranian mines in Hormuz is crucial to getting ships going again.

The reality is that this supposed plan brings things back full circle to problem #1... as it’s not as if either Iran, or the United States, will simply shrug and cede control so that a European military coalition can step in and take over.

Which side will ever actually agree to this? The obvious answer, at least for the time being and foreseeable future is… nobody.

And then there’s the question of what leverage or force will Europe employ to assert its military presence in the strait in order to keep all parties in line… some mere harsh language and strong words?

Authored by Mrigakshi Dixit via Interesting Engineering,

The UK’s new nuclear approval at Wylfa officially kicks off what the government calls a “golden age” for the nation’s energy sector.

Depiction of Rolls-Royce SMR site at Wylfa on Anglesey, North Wales.

On April 13, the government approved the development of three Small Modular Reactors (SMRs) at the Wylfa site on Anglesey, North Wales. 

This project, a partnership between Rolls-Royce SMR and Great British Energy – Nuclear, aims to advance domestic, low-carbon energy technology.

The BBC reported that the three units have a total output capable of powering approximately 3 million homes for over 60 years.

If all goes to plan, the first “Made in Britain” SMRs could begin feeding the National Grid in the 2030s. 

“This is a critical milestone for Rolls-Royce SMR, for Rolls-Royce and for the UK as the Government looks to realize its ambition of a ‘golden age’ of new nuclear,” said Tufan Erginbilgic, CEO, Rolls-Royce, on April 13.

Reviving Wylfa

Last November, Prime Minister Sir Keir Starmer confirmed that the coastline of Ynys Môn (Anglesey) would become the official home for three of the UK’s first small modular reactors.

Through a £2.5 billion partnership, the site is being transformed into a high-tech energy hub.

The original Wylfa power station, once Britain’s oldest nuclear plant, concluded 44 years of operations in 2015, having reached the end of its natural lifespan.

The site’s closure was driven by the aging infrastructure of the 1960s-era reactors and the 2008 cessation of the specific fuel production required to run them. 

Although initial replacement plans were abandoned in 2021, the site is now entering a new chapter following the 2024 proposals to revitalize the location as a modern energy hub.

The Rolls-Royce SMR is a 470 MWe pressurized water reactor designed to provide reliable baseload power for at least 60 years. Each unit has a compact footprint of approximately 16 meters by 4 meters. 

According to a World Nuclear News report, the modular design allows 90% of the unit to be manufactured off-site. 

Moving the bulk of the work off-site limits local disruption and ensures a much faster, more predictable construction timeline.

Rolls-Royce SMR chief Chris Cholerton pointed to the project as a clear win for domestic innovation, proving the UK can build its own path to energy security.

UK’s energy independence

The push for energy independence has become a mantra for the UK government. By building locally, the UK aims to insulate itself from global price spikes while meeting its aggressive net-zero targets.

To further the UK’s nuclear ambitions, a £599 million commitment from the National Wealth Fund has been allocated to support the engineering and rollout of these reactors.

The project is a massive engine for employment. Officials estimate it will create 8,000 new jobs. While 3,000 of these roles will be rooted locally in Anglesey, another 5,000 will be spread across the national supply chain.

Industry leaders have hailed the decision as a “historic step” in Welsh industrial growth, positioning the site as the launchpad for Britain’s first fleet of small modular reactors. 

Wylfa has seen false starts before. A previous plan for a large-scale plant was scrapped in 2021, leaving the local community in limbo. While site work begins immediately, a final investment decision isn’t expected until the turn of the decade.

The goal is to clear all planning and regulatory hurdles so the reactors are operational during the 2030s. 

This timeline ensures that once the financial and legal frameworks are settled, the site can begin contributing to the energy grid within the next decade.

Algeria has been hit by two terror attacks during Pope Leo XIV’s visit, officials say – though at this point there doesn’t appear to have been any direct effort at targeting the Pope or his accompanying officials.

Twin suicide attacks rocked a city outside Algeria’s capital Monday, just as the American-born Pontiff began his historic visit to the country, AFP reports.

Pope Leo at the presidential palace in Algiers on Monday, via Vatican Media Handout/EPA

“There were two security incidents yesterday afternoon in Blida, incidents of a terrorist nature. Two suicide bombers blew themselves up and were killed,” a source told AFP on Tuesday. The city in question is a little less than 30 miles southwest of Algiers.

But importantly, authorities have as yet found no link between the attacks and the pope’s visit, which is taking place under tight security. Video reviewed by AFP showed two bodies lying in a street in Blida.

According to a regional news report, “In the videos, several people gathered around the bodies, while passers-by covered them with sheets in a light rain.” The report continues, “The remains appeared severely mutilated, and the circumstances of their deaths could not be determined. Based on the images, the scene was located near several shops and a police station.”

Another report out of North Africa says that Algerian authorities have remained curiously silent on the incident, perhaps trying to avoid disrupting the Pope’s visit, or else on fears that the country will be seen as suffering serious security lapses:

Reports quoted eyewitnesses who said two individuals were wearing explosive belts and tried to target separate locations. Le Point said police officers opened fire on the two attackers before they could reach their targets.

Other reports said the first explosion targeted a security facility in Blida, with the fatal attack causing the deaths of two police officers. Reports also alleged that a second suicide bombing affected a food processing facility in the same province.

But again, little of this is actually confirmed by Algerian security officials. As for Leo, his visit has so far been unfolding without a hitch – but likely his security detail has been tightened and extra vigilant in light of the suicide bombings.

Pope Leo has landed in Algeria, birthplace of St. Augustine – the founder of his religious order. He told reporters on the plane this saint is an important ‘bridge’ in interreligious dialogue. “We must always seek bridges to build peace & reconciliation.” (CNS 🎥/Lola Gomez) pic.twitter.com/SZPYDQ1QUl

— Catholic News Service (@CatholicNewsSvc) April 13, 2026

The Pope kicked off his 11-day tour in four African countries this week- which after Algeria will include Cameroon, Angola, and Equatorial Guinea. He has while in Algeria focused on promoting Christian-Muslim coexistence, and has visited ancient Christian sites tied to when the region was previously predominantly Christian during late antiquity, under the late part of the Roman Empire in the West.

Authored by Andrew Korybko,

Orban’s “democratic ouster” is expected to remove Hungary’s procedural opposition to the EU’s planned €90 billion loan to Ukraine that’ll be financed by members raising common debt.

RT published a detailed article about this plan here last December, which was a compromise for financing this loan after the bloc failed to reach a consensus to either outright confiscate some of Russia’s frozen assets for giving to Ukraine or use at least some of them as collateral for a loan to it. Readers can learn more here and here.

If everything goes according to plan, and Bloomberg reported that the bloc plans to move swiftly after Hungary held everything up for several months already, then this move risks funding a forever war.

Hopes of a military breakthrough along the front or a diplomatic breakthrough in US-mediated talks have yet to materialize, so the pace of Russia’s on-the-ground advance remains glacial, thus meaning that it could take years to achieve Russia’s reported minimum goal of obtaining control over all of Donbass.

Funding two-thirds of the Ukrainian budget for the next two years per the EU’s goal would likely lead to another two-year round being agreed in order to encourage the US to continue its military aid.

Ever since last summer, the US no longer donates arms to Ukraine but instead sells them to NATO, which then transfers them there. 

Even if Trump suspends these sales, so long as the Ukrainian budget is financed and nothing major changes, then it might hold out long enough for him to change his mind again.

To be sure, Ukraine cannot fight forever since even Zelensky’s new Chief of Staff Kirill Budanov recently admitted that it faces “a huge, huge problem” after new Defense Minister Mikhail Fedorov revealed that over 2 million Ukrainians are dodging the draft, which seriously complicates operations at the front.

There’s also always the chance that Putin will turn the special operation into a formal war in which he’d no longer care about civilian casualties in an attempt to decisively end the conflict on Russia’s terms.

There are two competing schools of thought about why he hasn’t yet done so.

One speculates that he doesn’t want to inadvertently risk an escalation with the US that could easily spiral into World War III…

…while the other is that he still truly considers Russians and Ukrainians to be one people like he explained at length in summer 2021’s magnum opus, ergo his reluctance to see their civilians suffer.

At any rate, the forever war scenario assumes that Putin won’t do this, which can’t be taken for granted.

Nevertheless, the EU operates under the assumption that he won’t do so, which explains why it plans to move swiftly to approve Ukraine’s €90 billion loan and still buys arms from the US for transfer to that country.

This not only perpetuates the risk that tensions spiral out of control but also perpetuates the EU’s energy insecurity amidst the ongoing crisis caused by the Third Gulf War since an end to the conflict could hypothetically result in the resumption of Russian energy exports to the EU to its citizens’ benefit.

The EU’s unstated goal is to perpetuate the conflict till at least 2029 in the hope that the Democrats will regain control of the White House and resume the US’ Biden-era Ukrainian policy.

Even though Europeans will economically suffer till then, not to mention more Russians and Ukrainians dying, the bloc is willing to pay these costs in pursuit of its ideologically driven goal of inflicting a strategic defeat upon Russia. Ultimately, however, the conflict might end up strategically defeating the EU instead.

Italy has suspended the automatic renewal of its defense agreement with Israel amid the ongoing US-Israeli war on Iran, now ‘paused’ as a two-week ceasefire holds in order to give a chance for talks.

Prime Minister Giorgia Meloni announced the significant status change following weeks of tensions over the Israel question, and after other European governments like Spain and France have heaped criticism on Trump’s Operation Epic Fury. “The government, considering the situation we are experiencing, has decided to suspend the automatic renewal of the defense agreement with Israel,” Meloni said during her latest press briefing in Verona.

File image via Italianismo

Italian Defense Minister Guido Crosetto sent a letter to Israeli Defense Minister Israel Katz confirming the suspension of the Italy-Israel memorandum, which governs defense cooperation. The agreement, which has been in effect for many years of the 21st century, oversaw and guided exchange of military equipment and joint technological research between the two countries’ armed forces.

According to more background in the NY Times:

The defense accord, ratified in 2005, established cooperation between the two countries in areas including “defense industry and procurement policy,” importing and exporting military equipment, exchanging technical data and other forms of military collaboration. It has been renewed every five years, and was set for another renewal this month.

Opposition parties had put pressure on the government for over a year to suspend the renewal. Marco Grimaldi, an opposition lawmaker, said the decision was “a victory” for those who had protested Israel’s military offensive in Gaza over the last three years.

Like in Spain, much of the Italian public, especially among the younger demographic, sees no benefit in closely aligning Italy with Israel’s agenda in the region. And anger and criticism of Israel has been on the rise for years, particularly amid the high civilian casualties of the Gaza war.

In the meantime rising energy costs in Europe from the Hormuz closure have only served to intensify scrutiny of Italy’s ban on Russian natural gas imports, imposed after Moscow’s 2022 invasion of Ukraine.

Responding to calls to revisit Russian gas restrictions, Meloni said, “We must not forget that the economic pressure we have exerted on Russia in recent years is the most effective weapon we have to build peace.”

Meloni’s relations with Washington have also come under fire, and her Tuesday comments were on the defensive: “When you are friends and allies, particularly strategic ones, you must also have the courage to say when you disagree,” she said.

Starting in late March, Italy began blocking some US military aircraft bound for the Middle East from landing at Sigonella Air Base in Sicily. France under Macron has taken some similarly restrictive measures regarding the US military using its airspace related to Iran operations.

Trump has in the recent past said he had been “very shocked” that Meloni has very publicly rejected assisting the United States in the war against Iran, and by her “letting America do all the work” for Italy, “which gets its oil from Iran.” Meloni has more recently said it is “unacceptable” for Trump to attack Pope Leo XIV over the Vatican’s anti-war stance.

“Do people like her? I can’t believe it,” Trump said in a recent interview, adding: “I thought she had courage. I was wrong.”

Via Remix News,

On the back of Péter Magyar’s victory in Hungary, European Commission President Ursula von der Leyen says the EU needs to work on getting rid of member states’ veto powers.

For many who backed Viktor Orbán, one of their greatest fears was exactly what von der Leyen is now advancing: an unconstrained EU able to take action on foreign policy, health, and migration without the threat of a veto.

It is widely assumed that the incoming prime minister of Hungary will seek a fast resolution of Brussels’ key issues with Hungary in order to unlock some €35 billion in funding. While Magyar is still seen as right of center and has already insisted border protection will remain a top priority, he has also made it clear that he will work to build a more constructive relationship with Brussels and make Hungary more a part of the European community.

One way Viktor Orbán previously served as a constant thorn in the side of other member states was via use of the veto power, namely to block aid to Ukraine and sanctions on Russia.

Over the past four years, Hungary’s constant blocking of EU measures drove many to suggest a move to qualified majority voting.

Now, with Magyar’s win and Orbán gone, von der Leyen says the “momentum” is here to make that move.

“Moving to qualified majority voting in foreign policy is an important way to avoid systemic blockages, as we have seen in the past,” she said.

She urged governments, which would have to agree to any change, to “use the momentum now,” she told press yesterday.

She also made it clear that “Hungary is coming back to the European path.”

One conservative Polish MEP from the New Hope party posted her reaction that the Commission president was losing no time in burying member state rights to oppose EU initiatives.

“For the EU’s pseudo-elites, it’s secondary whether the new Hungarian government of Orbán will buy fewer raw materials from Russia or quickly rubber-stamp the next sanctions. The main goals of the Eurocrats are different—barely have the elections wrapped up, and the EC President is already champing at the bit to push the topic of abolishing the veto right for Poland in foreign policy matters,” wrote Ewa Zajączkowska-Hernik.

Szybko poszło❗ Von der Leyen właśnie ogłosiła, że po wyborach na Węgrzech trzeba zlikwidować prawo weta w polityce zagranicznej UE❗ Proszę o UDOSTĘPNIANIE i nagłaśnianie 🔄

“Naprawdę powinniśmy wykorzystać ten impet, żeby ruszyć naprzód w tym temacie” – podkreśliła szefowa… pic.twitter.com/jIjRy24ai5

— Ewa Zajączkowska-Hernik (@EwaZajaczkowska) April 13, 2026

“Subjugate everything and everyone, create mechanisms that turn countries like Poland into just another insignificant province. All wrapped in the sweet packaging of delightful slogans about unity with everyone,” she added, emphasizing the importance of future member state elections.

Read more here…

Authored by Michael Clements via The Epoch Times (emphasis ours),

Virginia Gov. Abigail Spanberger wants the Commonwealth’s General Assembly to shore up what she sees as shortcomings in gun control bills it sent to her after its regular session.

Semi-automatic and fully automatic firearms, including some that were modified using 3D printed parts, at the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) National Services Center in Martinsburg, West Virginia, on Sept. 4, 2024. Saul Loeb/AFP via Getty Images

Spanberger has requested amendments to clarify a bill banning so-called “assault weapons” and add universal background checks to a bill that raises the age to purchase a handgun or assault weapon from 18 to 21.

She also requested an amendment to clarify that rendering a gun inoperable with a gun lock will meet the safe storage requirements in the new law, and to clarify that the purpose of gun sell-back programs is “to provide Virginians who choose to safely return a firearm in their possession with a safe process to do so.”

The General Assembly is scheduled to reconvene and consider Spanberger’s amendments on April 22.

HB217, a ban on certain types of semiautomatic rifles, pistols, and shotguns, is one of the most closely watched bills in the gun legislation package, including by federal officials.

Harmeet Dhillon, assistant attorney general in charge of the Department of Justice’s (DOJ’s) Civil Rights Division, warned Spanberger to reconsider the gun control bills, especially the ban, in a letter dated April 10.

Assistant Attorney General for Civil Rights Harmeet Dhillon speaks during a news conference at the Justice Department in Washington on Sept. 29, 2025. Andrew Harnik/Getty Images

“The Civil Rights Division will commence litigation in the event the Commonwealth of Virginia enacts certain bills that unconstitutionally limit law-abiding Americans’ individual right to bear arms,” the letter reads.

According to a statement from Spanberger’s office, the amendment for HB217 is to “provide additional clarity to law enforcement as it relates to the firearms included under this legislation, as well as protect the use of certain semi-automatic shotguns used for hunting.”

Under the new law, it would be illegal to import, sell, manufacture, purchase, or transfer an assault firearm as defined in the law, beginning July 1.

It defines an assault weapon as any semiautomatic rifle, shotgun, or pistol with a collapsible, telescoping, or thumbhole stock, a bayonet lug or grenade launcher, a magazine that holds more than 15 rounds, a second handgrip, or a threaded barrel to install a flash suppressor, muzzle brake, or compensator, among other things.

Those legally purchased before July 1 are grandfathered. However, the owners can only transfer them to licensed gun dealers outside the state, or to family members through private sale, gifting, or as part of an inheritance.

According to the DOJ letter, the U.S. Supreme Court has already opined that the AR-15 is “both widely legal and bought by many ordinary consumers.”

Virginia Gov. Abigail Spanberger delivers the Democratic response to President Donald Trump’s State of the Union address in Williamsburg, Va., on Feb. 24, 2026. Mike Kropf/Getty Images

HB1525 raises the minimum age to buy a handgun or assault weapon from 18 to 21. It also restores universal background checks in Virginia. The law includes exceptions for students in ROTC or law enforcement training.

The amendments direct the Virginia State Police to resume background checks for private sales and to align the checks with HB217.

Additionally, the amendments include an emergency clause to implement the law upon action by the General Assembly.

HB702 would allow local law enforcement to develop policies and procedures to institute firearm buy-back or give-back programs by Jan. 1, 2028, and each year thereafter. Spanberger’s amendment is to ensure gun owners have a safe way to dispose of their firearms if they want to.

Spanberger signed bills banning unserialized guns and components, often called ghost guns, setting tighter regulations on firearms businesses, and two laws concerning possession of firearms by people under court orders, on April 10.

More Than 20 Bills Passed

These bills are among more than 20 gun control bills passed by the Virginia General Assembly during its regular session.

They include prohibitions on carrying guns on the Capitol grounds or within 100 feet of polling places or buildings used by election boards, and setting requirements for storing firearms in a home where children are present.

HB969 directs the secretary of public safety to study establishing a Virginia Gun Violence Prevention Center. Several states have set up similar offices modeled on the White House Office of Gun Violence Prevention established under the Biden administration.

That office was closed on President Donald Trump’s second day in office.

In her statement, Spanberger said she supports the Second Amendment. She wrote that the new laws are about keeping Virginians safe.

“I support the Second Amendment. But gun violence is the leading cause of death for children and teenagers in America, and that should motivate all of us to ask ourselves what we can do to mitigate this harm,” Spanberger wrote.

Democrats passed similar gun control packages in the past two years, but then-Republican Gov. Glen Youngkin vetoed those bills.

In November 2025, Democrats took control of the General Assembly and the governor’s office. California, Connecticut, Delaware, Hawaii, Illinois, Maryland, Massachusetts, New York, New Jersey, and Washington state have similar bans.