Leaders from the European Union’s 27 member states gathered in Cyprus for a two-day summit to confront pressing geopolitical challenges, with the wars in Ukraine and tensions involving Iran at the top of the agenda.
Ukraine
The summit opened with leaders endorsing a long-delayed €90 billion financial package for Ukraine and agreeing to additional sanctions on Russia. European Council President Antonio Costa said the EU’s approach combines strengthening Ukraine and increasing pressure on Moscow, and that progress was made on both fronts.
The loan had been blocked for weeks by opposition from Hungary’s outgoing prime minister, Viktor Orban, who did not plan to attend the Cyprus meetings. Preliminary approval for the aid was reached a day earlier.
Ukrainian President Volodymyr Zelenskyy is scheduled to join the talks in the coastal town of Ayia Napa, where he is expected to press for a clear path toward EU membership and call for heightened pressure on Russia.
Middle East
On the second day in Nicosia, European leaders will be joined by several regional figures, including Lebanon’s Joseph Aoun, Egypt’s Abdel Fattah al-Sisi, Syria’s Ahmed al-Sharaa and Jordan’s Crown Prince Hussein bin Abdullah. A working lunch will focus on Lebanon, where a fragile 10-day ceasefire remains in effect between Israel and the Iran-backed group Hezbollah.
A separate ceasefire involving the US, Israel and Iran also persists. Iran’s effective closure of the Strait of Hormuz has pushed up energy prices and raised alarms about possible jet-fuel shortages in Europe, since roughly 20% of EU jet-fuel imports transit that waterway.
A senior EU official told AFP the bloc stands “ready to contribute” to keeping the strait open once conditions allow, and expressed hope that the current ceasefires hold.
EU budget talks
Leaders are also beginning discussions on the EU’s next long-term budget for 2028–2034. The European Commission has proposed a larger budget — roughly €2 trillion — aimed at boosting competitiveness and defense. Financing those priorities will be challenging, however, as many member states face tight public finances. Officials hope to reach a final agreement by the end of 2026.
Edited by: Sean Sinico