EU summit in Cyprus: still 90 billion euros for Ukraine

The European Union is taking a major step with a 90 billion euro loan for Ukraine. President Zelensky will unexpectedly attend the summit in person. At the same time, work is underway on a new package of sanctions against Russia. Both decisions are closely linked and are being prepared simultaneously.

Decision-making on the Ukrainian loan was previously delayed by disagreements. Resistance from Hungary and Slovakia played a significant role. The resumption of Russian oil supplies via an important pipeline is seen as decisive in removing their objections. 

Middle East

Besides Ukraine and Russia, energy supply is also high on the agenda. Disruptions to international energy routes are causing rising prices and uncertainty about deliveries. Tensions in the Middle East further increase this uncertainty. European leaders are concerned about the economic consequences, including the risk of broader damage to the economy.

The summit in Cyprus was originally intended to make progress on the EU’s multiannual budget. That discussion continues but is overshadowed by the urgent geopolitical situation.

Russia

Heads of state and government are trying to address multiple problems simultaneously. War, energy, and the economy all require decisions at once, causing other plans to receive less attention.

The European Union meanwhile remains committed to its course toward Russia. New sanctions and restrictions continue to be part of the policy, even under difficult circumstances. The combination of these topics makes the summit a complex meeting where short-term crises and long-term plans collide.