And to you, António,
Dear Mette,
Thank you for your constant support for Ukraine, I am sure that, under your leadership, this support will continue.
Last week we agreed to renew our sanctions. And, as first achievement of your Presidency, you can bring the 18th package to the finish line. I am confident that this will be possible. We all know that Putin does not want peace, so we need to put pressure on him to come to the negotiating table. 18 sanctions packages are biting at the heart of Russia's war economy. It was an eye-opener to hear Russia's Minister of Economic Development saying that Russia is on the brink of recession. The interest rate is at 20%. Inflation is at 10%. And Russia's overheated war economy is coming to its limits. So it is important for us to increase the pressure so he comes to the negotiation table.
My second point is on defence. We will deliver 2 million shells to Ukraine by the end of the year. We also invested EUR 2.1 billion to strengthen Ukraine's defence right now. And the origin of this money is important. We are doing this by using the windfall profits from immobilised Russian assets. In practice, Russia is paying for the weapons Ukraine is using. But Ukraine needs more. And for that, we have SAFE. SAFE for joint procurement. This money can be taken by Member States and be invested in the Ukrainian defence industry, it will strengthen it. The products are better, more intelligent, cheaper and come faster. So it is to our benefit too. And it will increase the income – not only of the defence industry but also of Ukraine's government of course. I think it is also important that there still is spare capacity in the Ukrainian defence industry so it is worth investing in it. What is important is that Member States can join SAFE, so can Ukraine.
Finally, a bilateral issue, on trade flows for agricultural products. The good news is that we have found an agreement with Ukraine. It will provide long-term and predictable trade relationship on agricultural products.
In addition, we are giving long-term economic certainty through the Ukraine Facility and the G7 loans. We want to gradually bring Ukraine into our Single Market. A good example is that we are ending roaming charges as of next year – also to bring our people closer together.
We are working hard on your accession process. We are preparing for your future as a free and modern country inside the European Union.
