A two-day EU leaders’ summit kicks off in Cyprus. The European Union has unveiled its 20th package of sanctions against Russia. The list of banks with which transactions will be prohibited from May 14, 2026, includes 20 institutions. The restrictions will also affect four financial institutions from third countries. In addition, the EU has approved a €90 billion loan for Ukraine.
European Commission President Ursula von der Leyen and European Council President António Costa welcomed the decision, noting that it will help support Ukraine in defending itself and achieving a just peace, while at the same time increasing pressure on Russia.
On the second day of the summit, Middle Eastern leaders will join their European counterparts to discuss the situation around Iran, the resulting energy crisis, security issues, and the EU budget. Cyprus holds the rotating presidency of the EU Council this year.
