Council of the European Union

Money Moves

Approved legal framework for €90 billion loan

The European Union approved a €90 billion loan package for Ukraine on February 4, 2026—the largest single financial commitment in the bloc's history to a non-member state. Two-thirds of the money, €60 billion, will purchase weapons and ammunition; the remaining €30 billion covers government operations. Ukraine will only repay the loan if Russia agrees to war reparations, meaning the EU expects to carry this debt indefinitely.

Updated Feb 5

Rule Changes

Achieved unanimous vote on IRGC designation

For over two decades, the European Union resisted designating Iran's Islamic Revolutionary Guard Corps (IRGC) as a terrorist organization, wary of severing diplomatic ties with Tehran. On January 29, 2026, that resistance collapsed. All 27 EU foreign ministers voted unanimously to place the IRGC on the same legal footing as al-Qaeda, Hamas, and Islamic State—a designation that triggers automatic asset freezes and travel bans across the bloc. Within hours, the United Kingdom signaled it would follow suit with separate legislation targeting hostile state agencies.

Updated Jan 31

Rule Changes

Maintains major Belarus economic restrictions, including on potash

A U.S. envoy went to Minsk to talk about prisoners—and walked out with both a promise and a delivery. After John Coale's December 2025 visit with Alexander Lukashenko, Treasury's OFAC published General License 13 on December 15, authorizing transactions with Belaruskali, Belarusian Potash Company, and Agrorozkvit—no expiration date. Belarus responded by freeing 123 political prisoners, including Nobel laureate Ales Bialiatski and opposition leader Maria Kolesnikova, the regime's most valuable hostages.

Updated Jan 11

Rule Changes

Co-legislator representing member states; pushed hard on supply obligations and antibiotic incentives

After two years of trench warfare between EU governments, lawmakers and drug makers, Brussels has finally agreed a ‘pharma package’ that tears up the bloc’s 20‑year‑old drug rules. The deal locks in eight years of data protection and one year of market exclusivity for new medicines, with bonuses that can stretch protection to 11 years if companies hit public‑health goals.

Updated Jan 9

Rule Changes

Approved €90B budget-backed loan for Ukraine 2026–2027; maintained indefinite asset immobilisation with contingent-use clause reserving right to tap frozen reserves if reparations received

Russia's central bank sued Euroclear in Moscow on December 12, seeking €193.7 billion in damages. Six days later the plan that triggered the lawsuit—using frozen reserves to back Ukraine loans—collapsed at the European Council. Belgium refused the legal risk; the EU pivoted to a €90 billion conventional loan backed by its own budget instead.

Updated Dec 27, 2025

Rule Changes

Adopted the temporary €3 customs duty; set direction to eliminate the €150 threshold

The EU just put a price tag on the business model that turned “free shipping from China” into a daily habit. On 12 December 2025, EU governments approved a temporary €3 customs duty on low-value e-commerce parcels under €150—starting 1 July 2026.

Updated Dec 12, 2025