Let me start, dear Donald, with a word on the Polish Presidency as it draws to a close. Your Presidency was challenging, but you delivered. You closed 37 major legislative files and reached negotiating mandates on another 18. Those are impressive figures. You advanced support to Ukraine, with agreements on our 16th and 17th sanctions packages and new tariffs on Russian and Belarusian goods. You pushed forward on temporary protection, showcasing Polish generosity and solidarity. You helped fast-track the SAFE Regulation and advanced the European Defence Industry Programme, making our common home stronger and safer. This was an efficient Presidency that laid the groundwork for Denmark starting in July. So Donald, thank you for your leadership and commitment to Europe – today and always.

This European Council came at an important time, following key international meetings like the G7, EU-Canada, and NATO summits. It takes place amidst serious geopolitical and geoeconomic volatility, making it crucial to take stock and coordinate our responses.

First, we discussed Europe’s defence. We have made significant progress since our European Council in March. The Defence Readiness 2030 plan provides a roadmap, and the ReArm Europe Plan lays out necessary investment tools. 16 Member States have activated the National Escape Clause, allowing a substantial increase in defence spending without triggering an Excessive Deficit Procedure. Under your Presidency, we swiftly agreed on the SAFE Regulation, with 10 Member States signaling their intention to take loans under SAFE. It’s not just about how much we spend, but how effectively we spend it. We are building a genuine EU-wide market for defence equipment focused on scale, interoperability, and efficiency. This starts with removing barriers and simplifying procedures through our Defence Readiness Omnibus proposal, which will enable fast-tracked permitting for the defence industry. We urgently need an agreement on this omnibus. Finally, our investments in Ukraine will also allow joint procurement with Ukraine and from its defence industry. A stronger Ukraine can better defend itself against Russian aggression, which benefits us all. Beyond our borders, we are building Security and Defence Partnerships for strategic depth, with eight established so far, including Japan, South Korea, the UK, and Canada, with Australia to follow.

Second, we discussed the Middle East situation. Europe welcomes the ceasefire announcement, which must be respected by all parties to restore regional stability. Irans readiness to return to credible diplomatic processes is crucial, and it must never obtain a nuclear bomb. The negotiating table remains the only viable path forward. We must also focus on the humanitarian crisis in Gaza, which is unacceptable. Humanitarian aid must reach Gaza immediately and unimpeded. Europe will continue to call for a sustainable ceasefire and the release of hostages, leading to a permanent end to hostilities.

Third, we discussed Ukraine, with President Zelenskyy joining us via videoconference. We agreed to maintain our financial support for Ukraine across all fronts: militarily, economically, and politically. We recently allocated EUR 1 billion to Ukraine’s defence industry from frozen Russian assets. We are on track to reach a target of 2 million rounds of artillery ammunition for Ukraine by 2025 and are prepared to frontload EUR 11 billion of G7 loans. It’s essential for Ukraine to secure this funding. Politically, we must keep up pressure on Russia for serious negotiations, starting with a real ceasefire. Our 18th sanctions package aims to achieve this, and we expect an agreed package soon. We are also supporting Ukraine on its EU path. Despite relentless challenges, Ukraine continues to implement necessary reforms, which is impressive. This is why the Commission supports opening the first negotiation cluster. Ukraine has shown its commitment – now we must respond accordingly, as the accession process is merit-based, and Ukraine deserves to move forward.

In our last session on geoeconomics and competitiveness, I briefed leaders on the status of our trade talks with the United States. President Trump and I had a productive discussion at the G7 Summit in Canada, agreeing to expedite our work towards an agreement by July 9. We have received the latest US document for further negotiations and are currently assessing it. Our message today is clear: we are ready for a deal. However, we are also preparing for the possibility of no satisfactory agreement and have consulted on a rebalancing list to defend European interests as necessary. All options remain on the table.

In conclusion, we had a productive Summit at a decisive time, and the path forward is clear.