Recently completed the first day of the regular season. European Council in Brussels with the adoption of the text of the conclusions on all thematic debates that have been placed on today’s agenda.

Especially for her Ukraine its military reinforcements were resolved by providing 1 million rounds of ammunition over a 12-month period. In particular, The Council welcomed the recent agreement at the level of foreign ministers on a proposed three-pronged plan by the EU to spend 1 billion euros on missile stockpiles and an additional 1 billion euros on general purchases.. The text of the conclusions further highlights the need to ensure that sanctions against Moscow are not circumvented by third countries, with particular reference to the frozen assets that will be used to rebuild Ukraine.

The European Council also took note of the arrest warrants recently issued by the International Criminal Court against the President of Russia and his Ombudsman for Children for the war crime of illegal deportation and transportation of children from the occupied territories of Ukraine to Russia.

With regard to the competitiveness of the European economy, a decision was made to further deepen the single market, while considering ways to strengthen the innovation capacity of the EU and strengthen the Capital Markets Union, with the aim of stimulating investment to strengthen the EU’s technological base and achieve green and digital transitions. The 27 agreed that they should insist on “mobilizing existing funds and existing financial instruments” to support strategic industrial sectors.

Regarding her subject energy ways to ensure reliable supply at affordable prices were discussed. But around the “energy transition” there was an extensive discussion. The Greek Prime Minister even intervened in the relevant discussion, expressing his assessment that now is the right time for longer-term planning and reforming the electricity market. At the same time Mr. Mitsotakis noted that in order to reap the benefits of renewable energy, networks and investments in this “energy transition foundation” are critical.

V migratory the application of the conclusions of the February Council of Europe on this issue is considered. The leaders remind that migration is “a European challenge requiring a European response”. The European Council will return to this issue in June.

The council will conclude its work tomorrow after meeting the so-called “Eurosummit” in the presence of both ECB Presidents Christine Lagarde and Eurogroup Pascal Donahue, where the recent turmoil in financial markets caused by the failure of US banks is expected to be discussed in a Swiss bank as well. Discussions on fiscal coordination and an exchange of views on economic management are expected to follow as the European Commission presents its legislative proposal in early April.