Merz says Europe faces new opportunities amid unprecedented pressure

The NATO Secretary-General, Mark Rutte, Bulgarian Prime Minister Ruman Radev, and European Commissioner for Defence and Space Andrius Kubilius are among the key speakers at the Euronews Defence and Space Summit in Brussels. The summit addresses the growing concern over Russia's hybrid warfare tactics, including sabotage, arson, and frequent drone incursions. Estonia recently accused Russia of setting fire to a major drone manufacturer, prompting NATO to pledge continued support for Ukraine.

Ukraine's finance minister, Sergii Marchenko, has urged the EU to tap into immobilised Russian assets to alleviate the country's budget gap of $78 billion (€68.77 billion). This shortfall could be exacerbated if allies fail to increase their contributions. Marchenko argues that using Russian assets would address Ukraine's wartime costs, maintain debt sustainability, and hold Moscow accountable for its aggression.

EU officials have placed Ukraine's financial situation at the forefront of their agenda. The bloc holds €210 billion worth of sovereign assets, mostly held by Euroclear in Brussels. While discussing the financial woes, European Commission President Ursula von der Leyen began her annual Western Balkans tour in Albania, with stops in Kosovo, Montenegro, and North Macedonia.

The summit takes place amid political pressure on Serbian Prime Minister Aleksandar Vučić to expel his party, the SNS, following his funeral for the convicted war criminal Ratko Mladić. Meanwhile, Albania plans to finalize access to EU membership by the end of 2027, while Montenegro and North Macedonia face challenges in their accession paths.