On Friday, 21 March 2025, European Council President António Costa and European Commission President Ursula von der Leyen held a video conference with leaders of Iceland, Norway, Türkiye, and the United Kingdom.
President Costa and President von der Leyen briefed non-EU country leaders about the European Council meeting on 20 March. This was the second such meeting focused on supporting Ukraine and European defense. Global partnerships are crucial during this time.
They emphasized the European Councils support for Ukraine to achieve a just and sustainable peace.
EU leaders welcomed Ukraines readiness for a ceasefire and stressed that peace should not reward the aggressor. Pressure on Russia needs to increase.
Initiatives by France and the UK to form a coalition to support the Ukrainian army were praised.
It was agreed that Europe needs to increase investment in security and defense to ensure credible deterrence.
Proposed financing mechanisms for defense investments were presented.
- The National Escape Clause creates up to 650 billion euros of fiscal space.
- SAFE offers up to 50 billion euros in loans, with participation from countries like Norway and Iceland.
Participants agreed to continue coordinating efforts to strengthen Europes and Ukraines security.