European Union (EU) leaders gathered in Brussels on Thursday for a two-day summit which focused on economic competitiveness, high energy prices and the bloc’s next long-term budget, with the first day ending amid differences in views and the cancellation of a scheduled press conference.
According to the European Council’s agenda, economic challenges take center stage, with EU leaders expected to provide guidance to the European Commission on targeted, temporary short-term measures to ease the impact of high energy prices on businesses and households.
They will also discuss longer-term efforts to reduce Europe’s dependence on fossil fuels.
A recent surge in energy prices has heightened concerns over the EU’s competitiveness. European Commission President Ursula von der Leyen recently told the European Parliament that natural gas prices in Europe had risen by 140 percent since late February, while diesel prices had doubled, adding around 100 billion euros (about 112.1 billion U.S. dollars) to the bloc’s fossil fuel import bill.
With winter approaching, high energy costs could place further strain on European industries and households.
The EU’s next long-term budget is another major item on the agenda. Leaders will continue discussions on the Multiannual Financial Framework for 2028-2034, seeking to consolidate key elements needed to reach a final agreement by the end of 2026.
The summit will also address continued support for Ukraine, including its critical infrastructure needs ahead of winter, as well as European security and defense, migration, EU enlargement and the situation in the Middle East.