This afternoon, we had a meeting of the Coalition of the Willing. I updated President Zelenskyy and leaders present on two key priorities - support for Ukraine and increasing European defence preparedness.
We all know what is at stake and we know we do not have any more time to lose. Securing financial support will help ensure the survival of Ukraine, and it is a crucial act of European defence.
In this new era, geoeconomics goes hand in hand with geopolitics. We know the biting impact our sanctions have on Russias war economy. Along with our allies, Europe has the means and the will to increase pressure on Russia to come to the negotiation table.
Our Reparations Loan proposal is complex but at its core, it increases the cost of war for Russia. The proposal works on the cash balances produced by the immobilised Russian assets. These balances would be used for reparations. So the longer Putin wages his war, spills blood, takes lives, and destroys Ukrainian infrastructure - the higher the costs for Russia will be.
We know that Europes defence is our responsibility. We continue to forge ahead with urgency – on implementing our readiness roadmap, on military mobility and our pan-European flagships. While we are still examining the SAFE plans received from Member States, Ukraine is included in 15 of the 19 submitted. This is not just about money - Ukraine is learning hard won lessons on the battlefield and we are learning with them. In integrating our defence industrial bases, we are building a strong deterrence - for today and tomorrow.
As Ukraine engages in genuine diplomatic efforts for peace, Russia repeatedly deceives and stalls for time. Mocking diplomacy and increasing strikes while pretending to seek peace. Today, that façade remains firmly in place. But we will not fall for it, we know who is the aggressor and who is the victim in this war.
Russias brutal war sought to divide us but it has achieved the opposite. Our ties are stronger than ever. We are not only bound by defence interests but by our common values. And this is how we will proceed. United, in supporting Ukraine and in defending Europe.
