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This paper provides a summary of recent economic, financial and budgetary decisions and developments following President Vladimir Putin’s decision of 24 February to start a military attack against Ukraine. It includes recent information relating to the EU sanctions regime, recent economic estimates, and policies supporting economic and financial resilience, including the coordination of national economic and fiscal measures. It also highlights policy recommendations made in the public domain to mitigate ...

This paper has been produced by the Ex-post Evaluation Unit of the Directorate for Impact Assessment and European Added Value, within the European Parliamentary Research Service (EPRS) of the Secretariat of the European Parliament, as a regional evaluation in parallel to the EPRS 2022 Peace and Security Outlook. It has been drafted as a contribution to the Normandy World Peace Forum taking place in September 2022. The paper provides the background to EU relations with Georgia, Moldova and Ukraine ...

Russia's continuing war on Ukraine was central to the EU leaders' debates at their special meeting on 30-31 May 2022. Closely linked to Ukraine, food security, security and defence, and energy were also high on the agenda. EU leaders approved €9 billion in special macro-financial assistance for Ukraine and agreed on a sixth package of sanctions against Russia, including a ban on seaborne oil (two-thirds of imports) with a temporary exemption for pipeline oil imports. On food security, the European ...

Plenary round-up - March II 2022

Pe scurt 25-03-2022

With the war in Ukraine high on Parliament's agenda, the highlight of the March II 2022 plenary session in Brussels was a formal address by Justin Trudeau, Prime Minister of Canada. Members held a debate with the Council and the European Commission on the need for an urgent EU action plan to ensure food security inside and outside the EU, in the light of the Russian invasion of Ukraine. They also debated the power of the proposed joint European action to secure more affordable, reliable and sustainable ...

Following a request by Moldova (19 November 2021), the European Commission adopted on 4 January 2022 a proposal for disbursing up to €150 million in new macro-financial assistance (MFA) to the country, of which up to €30 million in grants and up to €120 million in medium-term loans at favourable financing conditions. The European Parliament is due to vote on the proposal during its second March plenary session.

While Ukraine has received considerable support from the EU and European financial institutions since 2014, Russia's invasion of Ukraine, launched on 24 February 2022, has triggered a historic and twofold mobilisation of EU funds – for humanitarian action and military support. The European Commission has announced over €500 million in financing for humanitarian aid and the Council has decided to use the off-budget European Peace Facility (EPF) to assist Ukraine with €500 million in military aid. ...

Next Generation EU Borrowing: a first assessment

Analiză aprofundată 29-10-2021

The Next Generation EU programme is radically changing the way the EU finances itself and interacts with financial markets, due to its ambitious and groundbreaking new public debt programme. The European Commission has thus adopted a totally new, diversified borrowing strategy, similar to that of other major issuers, to raise money safely, reliably and in a cost-effective manner. EU debt therefore has to be attractive to financial markets and maintain a strong credit rating.

The Association Agreement is the main framework for EU-Ukraine relations, and promotes economic and political cooperation, as well as respect for common values. The European Parliament is due to discuss an own-initiative report on its implementation during the February plenary session.

The May 2020 plenary session was the third conducted with a majority of Members participating remotely, although more were present in Brussels than at the April session, and using the alternative voting procedure put in place in March by Parliament's Bureau. The session focused on a number of urgent legislative proposals as well as votes on discharge for EU institutions and bodies concerning the 2018 budget. On the response to the Covid 19 pandemic, Parliament called upon the European Commission ...

On 22 April 2020, the European Commission submitted a proposal for a decision for macro-financial assistance (MFA) to support ten enlargement and neighbourhood partner countries in their efforts to mitigate the economic and social consequences of the coronavirus pandemic, for a total amount of €3 billion. The Parliament is expected to vote on its position on the legislative proposal during the May plenary session.