French President Emmanuel Macron announced the dissolution of the National Assembly and called new legislative elections on Sunday evening after his Renaissance party suffered a heavy defeat in the European Parliament (EP) elections.

Macron's shock decision set off a political earthquake in France, offering the far-right a shot at real political power after years on the sidelines and threatening to neuter his presidency three years before it ends.

The Renaissance party gained 15.2 percent of the vote in the 2024 EP elections, far behind the far-right National Rally (RN), which received 31.8 percent of the vote.

Macron said the result was grim for his government, and one he could not ignore. In an address to the nation, less than two months before Paris hosts the Olympics, he said lower house elections would be called for June 30, with a second-round vote on July 7.

"I have decided to give you back the choice of your parliamentary future through the vote. I am therefore dissolving the National Assembly this evening," Macron said in a short speech.

"This is a serious, weighty decision. But it is above all an act of trust," he added.

"The unprecedented gap between the presidential majority and the leading opposition party reflects a stinging disavowal and rejection of the policies led by Emmanuel Macron," RN President Jordan Bardella said after the EP elections results were announced.

Marine Le Pen, widely seen as the front-runner for the 2027 presidential election in which Macron is unable to stand, welcomed his decision.

"We're ready for it. I call on French people to join us in forming around the RN a majority in the service of the only cause that guides our steps: France," Le Pen, the parliamentary party leader of RN, posted on Sunday evening on social media platform X.

Macron's Renaissance party currently has 169 lower house lawmakers, out of a total of 577. The RN has 88.

If RN party wins a parliamentary majority, Macron would still direct defense and foreign policy, but would be left with little sway over domestic affairs.

The EP elections were held on June 6-9, with voters of the 27 EU member states selecting 720 lawmakers to the 10th EP.

(With input from agencies)