[CodesInChaos]

A good target for regulation of those clouds would be the inflated traffic pricing.

Either by a simple price limit on ordinary egress (e.g. max 1 EUR / TB to European providers which don't charge for peering/traffic), or by requiring them to peer at-cost with others and allowing the customers to choose such a peering for egress.

The current traffic pricing is extremely high, and makes it difficult to split your cloud installation between multiple providers.

[SpicyLemonZest]

Traffic pricing has to be understood as being, at least in part, a control against free-riding on the provider's networking architecture. The Data Act already gives EU customers a right to egress their data to another provider at cost, which all major cloud providers have implemented. But that doesn't (and shouldn't) mean that they have to give you a marginal-cost-only CDN.