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May 30/31: Special EU Council On Defence, Energy, Ukraine
The President of the European Council Charles Michel has confirmed that a special European Council will be held on May 30/31.
- Michel: 'As discussed in Versailles and during the last European Council, a special European Council will take place on 30 and 31 May. On the agenda notably defence, energy and Ukraine.'
- The previous Special European Council took place on Feb 24 in response to the Moscow's recognition of the separatist regions of Luhansk and Donbas.
- Following the Feb 24 Council: 'The EU has reacted swiftly and decisively to Russia’s recognition of Ukraine’s self-proclaimed separatist entities and deployment of its armed forces by adopting restrictive measures in response, including a package of sanctions adopted on 23 February.'
- It is likely that the Special EU Council in May could coordinate new measures against Russia and authorise a greater level of military support to Ukraine.
- The council will also likely devise a unified strategy for easing energy dependence on Russia as EU members plot a path out of Russian hydrocarbon imports.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.