EU leaders are meeting in Brussels to discuss a range of geopolitical challenges, including recent developments in Ukraine.
The European Council summit is expected to be a tricky one, with several thorny issues on the agenda. Ukrainian President Volodymyr Zelensky has been invited to attend the meeting in person.
Unlocking Russia’s frozen assets?
At the top of the summit agenda will be a discussion on whether to use frozen Russian assets to fund a recovery loan for Ukraine. Kyiv is in dire need of liquidity to continue resisting Russia, and the frozen funds would be enough to keep the country’s armed forces going for at least another two years of fighting.
The issue of has been a huge source of contention between European leaders in recent months - with Belgium at the centre of the debate.
Around €190 billion in Russian assets is currently being held at the Brussels-based financial institution Euroclear. The European Commission wants to offer Ukraine an interest-free €140 billion loan, secured against these frozen Russian assets.
Belgium is concerned it would face legal and financial repercussions should the EU tap into the funds.
Prime Minister Bart De Wever has expressed deep unease about the plans. "If we venture into unknown territory, we could be held liable for interest, we could be held liable for damages, and that would drag us into litigation for many years," he said last month.
Belgium has since indicated it will not stand in the way of the plan to unlock the frozen assets, but according to Politico, it is looking for assurances from the EU that the bloc will share the risks before signing onto any proposal.
The European Commission set out the plan last month, but needs approval from the European Council before a concrete proposal can be introduced.
Hungarian Prime Minister Viktor Orban is expected turn up late to the summit meeting, meaning he will miss the morning’s discussions on Ukraine.
Politico reports that Orban will arrive in Brussels mid-afternoon, citing prior commitments relating to the Hungarian revolution celebrations.
What else will be discussed at the summit?
At today’s summit, EU leaders will also discuss the latest developments in the Middle East, notably the initial phases of US President Donald Trump’s peace plan for Gaza.
Discussions will reportedly focus on how the EU can support ongoing efforts toward a lasting peace and the reconstruction of Gaza.
Leaders will also address European defence matters, including military spending and the pressing issue of ‘defence readiness’ – the idea that Europe needs a strong defence posture to deter its adversaries.
Disruptive drone sightings near European airports have accelerated calls for EU member states to improve their resilience and preparedness against so-called ‘hybrid’ threats – tactics such as cyber-attacks, disinformation and drone incursions that blur the line between peace and war.
Housing and migration are also on the agenda, with leaders expected to discuss affordable housing policies and the prevention of irregular migration.
