NextGen Day

Leaders of the European Union (EU) met for a two-day special summit on Monday to examine the effects of Russia’s war in Ukraine.

The 27 EU heads of state and government will begin by reviewing the current developments in Ukraine and the EU’s efforts to assist Ukraine in the face of Russian aggression.

The leaders will consider the European Commission’s newest proposal to provide Ukraine with an additional €9 billion (USD9.6 billion) in macro-financial support to meet its immediate liquidity requirements.

They will also review the future of frozen Russian assets after the EU executive body unveiled a draft package on Wednesday that allows oligarchs who violate EU sanctions to have their assets taken.

Ursula von der Leyen, the President of the European Commission, has previously stated that frozen Russian assets should be used for Ukraine’s reconstruction if it is legitimate.

For a portion of the talks, Ukrainian President Volodymyr Zelenskyy will join his EU counterparts via video link.

Sanctions, as well as the energy crisis

The stalling negotiations on the EU’s sixth sanctions package against Russia cast a pall over the leaders’ meeting.

Hungarian Prime Minister Viktor Orban refused to discuss the oil embargo at the European Council conference in a letter to President Charles Michel on Tuesday.

He stated that Hungary cannot endorse the EU’s sanctions package without further information on EU financial assistance for his landlocked country to replace its reliance on Russian energy.

On condition of anonymity, an EU official told EU reporters that the restrictive measures against Russia will be debated “very candidly,” and that the sanctions draft has evolved since Orban’s letter.

During the weekend, however, EU ambassadors were unable to reach an agreement on the sanctions package.

The leaders will also discuss the European Commission’s REPowerEU proposal, which is worth €210 billion.

By expediting the green transition to renewables and securing fossil fuel supplies, the idea aims to minimize reliance on Russian energy and slash gas imports by two-thirds by the end of this year.

Defense and food security

The EU leaders will address the bloc’s reaction to the global food shortfall aggravated by the war in Ukraine on the second day of the summit, including plans to transport Ukrainian wheat by circumventing Russia’s Black Sea blockade.

Macky Sall, the African Union’s chairperson, will join the session on food security via video link.

According to an EU official, the bloc’s major message to the African Union will be that “sanctions are not responsible for increased food prices; food insecurity is caused by Russian aggression.”

The EU leaders will discuss the European Commission’s attempts to resolve deficiencies in European military procurements as the final item on the agenda.

Better coordination of military procurements and cooperative acquisitions, as well as support for the European defense industry, are all part of the goals.

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