The annual event had been due to take place in Paris on Sunday 5 November, with stars including Taylor Swift, Olivia Rodrigo, Miley Cyrus and Nicki Minaj among the high-profile nominees, Sky News writes.
In a statement announcing the decision, a spokesperson for Paramount, which owns MTV, said: "Given the volatility of world events, we have decided not to move forward with the 2023 MTV EMAs out of an abundance of caution for the thousands of employees, crew members, artists, fans, and partners who travel from all corners of the world to bring the show to life.
"The MTV EMAs are an annual celebration of global music. As we watch the devastating events in Israel and Gaza continue to unfold, this does not feel like a moment for a global celebration. With thousands of lives already lost, it is a moment of mourning."
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Although the event has been called off, voting is continuing and the winning artists will still receive their MTV EMA Awards. Details of how winners will be announced have not yet been confirmed.
Organisers said they look forward to the event returning in November 2024.
Last year's MTV European Music Awards event - which is separate to the MTV Video Music Awards, held in the US - was dominated by Swift, who took home four of the six gongs she was up for: best artist, best video, best pop and best longform video.
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