EU Commission to come up with toolbox to address energy prices: Council condemns deteriorating situation in Gaza and the West Bank

The European Council met in Brussels yesterday to discuss the ongoing ramifications of the war in Iran and also to discuss Europe’s support for Ukraine. President Volodomymyr Zelensky was also present in Brussels for meetings with EU officials. There was however, no update over the EU €90 billion loan to Ukraine which was vetoed by Hungary.

The EU is forcing Ukraine to re-open the Druhzba pipeline in exchange for Hungary’s lifting of its veto. EU High Representative Kaja Kallas said that a deal with Viktor Orban was unlikely, but she also told the press that the EU can take measures to go ahead with the loan despite Hungary’s veto.

The European Council meeting focused Europe’s electricity pricing crisis as European gas soared up to €61 per MWh. A Council decision was taken asking the EU Commission to provide new tools and measures to address the electricity pricing crisis in Europe. The EU Commission will allow extended subsidies to mitigate ongoing effects and also issue new European-scale projects to upgrade the grid and interconnectivity. At the doorstep prior to the meeting, EU Council President Antonio Costa said that the Europe has to increase its own energy productivity across various sectors. In Malta, the Labour government has guaranteed the continuation of electricity and fuel subsidies.

The European Council also condemned Israel’s actions in Gaza and the West Bank describing the situation as Palestine as rapidly deteriorating. The European Council has urged Israel to adopt the Untied Nations Security Council 2803, to withdraw from Gaza and allow the the entry of the foreign stabilisation force and to halt all illegal settlements and settler violence in the West Bank. The EU is also deeply concerned about Israel’s ongoing attacks against Hezbollah in Lebanon and urged both parties to implement the ceasefire UNSCR 1701 resolution.  The EU also pledged its supported to the government of Lebanon and to the United Nations Interim Force in Lebanon (UNIFIL).

The European Council also pledged to continue working on the banking and savings union while it will also be issuing new regulations to simplify cross-border services and trade of European companies. A separate meeting was also held by the Eurogroup.

You can view the Council’s decision here. The decision on Ukraine can be found here.

Maltese Herald

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