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In Brussels, the 27 leaders of the European Union are convening for a summit with a highly packed agenda centered around Russia’s war in Ukraine, the diplomatic efforts initiated by Donald Trump, and the EU’s new multi-billion-dollar plans to enhance its defense capabilities.

The summit will also cover the need to enhance competitiveness, manage irregular migration, discuss the situation in the Middle East, the state of the multilateral order, and the future of the EU budget, which is under significant strain after years of consecutive crises.

With such an extensive list of topics, the heads of state and government may need to stay in the Belgian capital overnight and continue their discussions on Friday morning.

The summit seems to evoke a sense of déjà vu, considering that the leaders met just two weeks prior to discuss Ukraine and defense. This emergency meeting was organized in response to Trump’s rapid diplomatic actions and his shift towards Moscow, which unsettled leaders and sparked concerns about the potential collapse of the transatlantic alliance.

Despite the lingering doubts, there is somewhat less anxiety now that Ukraine agreed to a 30-day ceasefire and the US lifted its suspension on military aid and intelligence sharing, indicating an improvement in bilateral relations. Vladimir Putin responded with a more limited proposal for a ceasefire on attacks against energy infrastructure and demanded a “complete” halt in military aid supplies to Kyiv.

Ukrainian President Volodymyr Zelenskyy, who spoke with Trump on Wednesday about the next steps in negotiations, will brief the leaders via video conference.

“If it’s true that Putin said we should stop our military aid to Ukraine, then you will read in our conclusions the exact opposite,” stated a high-ranking diplomat.

However, the section of the conclusions relating to Ukraine is expected to be endorsed by only 26 member states, as Hungary remains opposed to any language regarding the “peace through strength” strategy and additional provisions of weapons and ammunition. A similar situation occurred two weeks ago when Viktor Orbán refused to endorse the joint EU text.

Additionally, leaders will address the European Commission’s ambitious plans to rapidly increase defense spending, which includes a new €150-billion loan program and to tap into the €10 trillion in savings held by EU citizens. The proposal to arm the bloc has garnered widespread support but further legislative action is required before the Commission can proceed to secure funding.

During the dinner, the leaders will discuss the bloc’s budget for the 2028-2034 period. However, this part of the summit will not feature detailed conclusions as the process is still in its nascent phase. The debate over the upcoming budget is expected to be intense and complex, with new priorities such as defense, green, digital, and Ukraine competing for space alongside traditional sectors such as agriculture and cohesion.

“The challenge lies in the financial equation: how we match our ambitions with the resources of our Union,” remarked a high-ranking EU official.

UN Secretary-General António Guterres and European Central Bank President Christine Lagarde will be present at different points throughout the day-long event.

Please stay tuned for our live coverage of the summit starting at 9:30am CET.