EU Summit concludes: Here's what leaders decided over energy, security and food crisis

The European Union leaders' two-day extraordinary summit wrapped on the afternoon of May 31, with the ban on Russian oil remaining the key takeaway. It took member states 26 days to reach an agreement on the sixth round of sanctions against Moscow, with the final product being less broad than originally planned.

Further, Hungary and other landlocked countries were granted a carve-out to continue importing Russian oil via pipeline for at least another 18 months. Leaders met on May 31 to address Russia-Ukraine war's impact on global food supplies and energy markets. The Council urged member states to speed up the development of solidarity lanes for the export of wheat and other grains from Ukraine.

It urged the Commission to look into options to rein down growing energy prices by enacting temporary import price ceilings in collaboration with international partners. When it comes to the defence budget and procurement, leaders have vowed to improve cooperation and coordination.

Here's how the day went:

Energy

The Council recommended that "as a short-term priority," the EU Energy Purchase Platform be used to diversify supply sources and routes, as well as exploring with international partners ways to contain rising energy prices, including the feasibility of introducing temporary import price caps where appropriate. The council resolved to speed up the implementation of renewable energy, which will need expediting permit-granting procedures right away. The council emphasised the importance of increasing energy efficiency.

Security and Defence

The European Council decided to "resolutely" implement the strategic Compass, reinforce alliances, boost resilience, and increase security and defence capacity by more and better investments, focusing on highlighted strategic deficiencies. In addition to NATO, the European Council asked for the creation of an EU defence strategic programming, procurement, and coordinating capability. The council also pushed for efforts to map current and future manufacturing capabilities, as well as to strengthen the capability and resilience of Europe's defence technology and industrial sector.

Food Security

The Council requested that Member States expedite work on Solidarity Lanes and facilitate food exports from Ukraine via various routes and EU ports. The council urged effective international coordination to ensure a comprehensive global food security response and pledged support for the UN Global Crisis Response Group, the upcoming G7 initiative to establish a Global Alliance for Food Security, and other EU and multilateral actions. The European Council requested that the Commission investigate the possibility of mobilising reserves from the European Development Fund to assist the most vulnerable partner countries.

Image: AP