Leaders from the EU’s 27 member states met in Cyprus on Thursday to address major geopolitical challenges, notably the wars in Iran and Ukraine.
Ukraine
The two-day summit opened with leaders approving a long-delayed €90 billion loan to Ukraine and agreeing on further sanctions against Russia. “The EU’s strategy to achieve a just and lasting peace in Ukraine rests on two pillars: strengthening Ukraine; increasing pressure on Russia. Today we moved forward on both,” European Council President Antonio Costa wrote on X.
The funds had been stalled by opposition from outgoing Hungarian Prime Minister Viktor Orban, who was not expected to attend the Cyprus meetings. Preliminary approval for the package was granted on Wednesday.
Ukrainian President Volodymyr Zelenskyy is due to join leaders in the coastal town of Ayia Napa on Thursday. In his remarks he is expected to press for EU membership and call for intensified pressure on Russia.
Middle East
On Friday in Nicosia, European leaders will be joined by Lebanese President Joseph Aoun, Egyptian President Abdel Fattah al-Sisi, Syrian President Ahmed al-Sharaa, and Jordan’s Crown Prince Hussein bin Abdullah. A working lunch will focus on Lebanon, where a 10-day ceasefire is holding between Israel and the Iran-backed group Hezbollah.
A separate ceasefire also remains in place in the conflict involving the US, Israel and Iran. Iran’s effective closure of the Strait of Hormuz has pushed energy prices higher and raised concerns about a possible shortage of jet fuel in Europe, since about 20% of EU jet fuel imports pass through the waterway.
A senior EU official told AFP the bloc was “ready to contribute” to keeping the strait open “when the conditions are met,” adding, “We certainly hope that the ceasefire is kept and maintained.”
Raising the EU budget
Leaders are also expected to begin talks on the EU’s long-term budget for 2028–2034. The European Commission has proposed a larger budget of roughly €2 trillion to boost competitiveness and defense, but financing those priorities will be difficult as many member states face tight finances. A final agreement is aimed for by the end of 2026.
Edited by: Sean Sinico