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, showing to our continent the power of Polish generosity and solidarity. You helped fast-track the SAFE Regulation and moved forward with the European Defence Industry Programme, to make our common home stronger and safer. This was a focused, efficient Presidency that laid the groundwork for Denmark as of July. So Donald, thank you for your leadership and your commitment to Europe – today and always.

This European Council came at an important time. It follows a series of key international meetings, the G7, the EU-Canada and NATO summits. And it takes place against a backdrop of serious geopolitical and geoeconomic volatility. So it is an important moment to take stock and coordinate our answers.

First, we discussed Europes defence. Together, we have come a long way since our European Council in March. Our Defence Readiness 2030 plan sets out a roadmap. The ReArm Europe Plan lays out the tools to deliver the necessary surge in investment. 16 Member States have requested the activation of the National Escape Clause. This will allow them a substantial increase of defence expenditure without triggering an Excessive Deficit Procedure. And, under your Presidency, Donald, we agreed in no time the SAFE Regulation. 10 Member States have already signalled their intention to take up loans under SAFE. I expect more to join. But it is not just about how much we are spending, but how we are spending. We are building a genuine EU-wide market for defence equipment with scale, interoperability and efficiency at its core. This starts with removing the barriers and simplifying procedures. We have our Defence Readiness Omnibus proposal. It will enable to fast-track permitting for defence industry, environmental derogations and simplified state aid rules. Now we urgently need an agreement on this omnibus. Finally, we invest in Ukraine. SAFE loans will also allow procuring together with Ukraine and from Ukraines defence industry. The stronger Ukraine becomes, the more it can defend itself against Russias aggression. This is better for all of us. Beyond our borders, we are building Security and Defence Partnerships to achieve strategic depth. 8 so far, including Japan, South Korea, UK and Canada. And soon, Australia.

Second, we discussed the situation in the Middle East. Europe welcomes the announcement of a ceasefire. It must be respected by all parties. Restoring stability in the region depends on it. As well as on Irans readiness to return to a serious and credible diplomatic process. Iran must never obtain a nuclear bomb. The negotiating table remains the only viable path forward. At the same time, we cannot lose sight of the humanitarian situation in Gaza, which remains abhorrent and unbearable. Humanitarian aid needs to reach Gaza immediately and unimpeded, at speed and at scale. Europe will keep on calling for a sustainable ceasefire, and the release of hostages, leading to a permanent end of hostilities.

Third, we discussed Ukraine. President Zelenskyy joined us per videoconference. We agreed to maintain our financial support to Ukraine on all fronts: militarily, economically and politically. Militarily, we recently allocated EUR 1 billion to Ukraines defence industry through windfall profits from frozen Russian assets. We are on track to reach the target of 2 million rounds of artillery ammunition for Ukraine in 2025; and we are ready to frontload the remaining EUR 11 billion of G7 loans. We know how important it is for Ukraine to ask for this money. Politically, we must keep up the pressure on Russia to engage in serious talks, starting with a real ceasefire. Our 18th sanctions package aims to do just that. We should be in a position to have an agreed package soon. At the same time, we are also accompanying Ukraine on its EU path. Under relentless fire, Ukraine is passing reform after reform. Its impressive. This is why the Commission defends the opening of the first cluster of negotiation. Ukraine has delivered – now we must too. Because the accession process is based on merit. And Ukraine merits moving forward.

At our last session on geoeconomics and competitiveness, I briefed leaders on the current state of play in our trade talks with the United States. President Trump and I had a good discussion at the G7 Summit in Canada. Back then we agreed to speed up work with a clear goal: an agreement before 9 July. Today we received the latest US document for further negotiations. We are assessing it as we speak. So our message today is clear: We are ready for a deal. At the same time, we are preparing for the possibility that no satisfactory agreement is reached. This is why we consulted on a rebalancing list. And we will defend the European interest, as needed. In short, all options remain on the table.

To conclude, we had a productive Summit at a decisive time. And the path onward is clear.