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EU Leaders Convene in Brussels

(MENAFN) The heads of state and government from 27 EU member countries are meeting on Thursday in Brussels for a critical two-day European Council summit. The controversial plan to utilize frozen Russian assets to finance a loan for Ukraine is expected to dominate discussions.

During the summit, leaders will engage in strategic talks on Ukraine, the upcoming multiannual financial framework, EU enlargement, and the bloc’s geo-economic landscape. Additionally, they will examine developments in the Middle East, European defense initiatives, and migration issues.

Financial support for Ukraine, security guarantees, and diplomatic efforts toward peace will be key points of discussion, alongside reviewing progress on the EU’s forthcoming long-term budget for 2028–2034.

The summit will also explore ways the EU can better protect itself from external economic and political pressures, advance its trade agenda, and enhance strategic autonomy and competitiveness.

Attention is particularly focused on deliberations concerning the proposed reparations loan for Ukraine, following the EU’s recent decision to “indefinitely immobilize” Russian assets nearly a week ago.

On Tuesday, the European Parliament approved fast-tracking draft legislation on the loan, setting the stage for a vote during the January plenary session.

If implemented, the proposal would allow the European Commission to generate funds for Ukraine by borrowing against the profits and cash balances held in immobilized Russian state assets.

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