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Wars for Money & Supremacy

          European Council Summit at Brussels on 27                   June, 2025

Wars for Money & Supremacy

Deepak Razdan

Saturday, 28 June, 2025

Multilateralism received a big blow from the US Liberation Day tariffs and created a New World with no definite rules. Still many multi-nation groupings exist and proclaim their achievements in diverse fields.

The European Council, the foreign policy and security group of the 27-nation European Union, met on 26 June at Brussels and discussed geo-economic challenges along with Ukraine and Middle East developments.

This meeting followed a series of key international Summits, the G7 Summit on 15-17 June in Canada, the EU-Canada Summit in Brussels on 23 June and the NATO Summit on 24-26 June at The Hague.

The 46th ASEAN Summit and ASEAN-non ASEAN nations Summits had preceded in Kuala Lumpur on 26-27 May.

The European Council had on its agenda European defence and security, migration, preparedness and internal security.

The council’s resolution on Ukraine was firmly supported by 26 heads of state or government. The EU remains steadfast in its solidarity with and support for Ukraine. To date, the EU has provided almost €158.6 billion to Ukraine.

In view of the uncertainty of US military and financial 
help to Ukraine, the European Council made a significant announcement that the EU will continue to provide comprehensive support to Ukraine fighting the Russian war for over three years.

To date, the EU has provided €59.6 billion in military support to Ukraine. The European Council called on EU countries to step up efforts to address Ukraine’s pressing military and defence needs, in particular the delivery of air defence and anti-drone systems, as well as large-calibre ammunition.

For a comprehensive, just and lasting peace, the EU leaders urged Russia to show real political will to end the war, to agree to a full, unconditional and immediate ceasefire and to engage in meaningful negotiations.

EU leaders underlined the importance of further supporting and developing Ukraine’s defence industry and of deepening its cooperation and integration with the European defence industry.

To support Ukraine’s ability to deter aggression, the EU and its member states stand ready to contribute to robust and credible security guarantees, the European Council said.

The EU is committed to contributing to training and equipping the Ukrainian Armed Forces for this purpose.

EU’s 17th package of sanctions against Russia targets in particular Russia’s energy and financial sectors, including the ‘shadow fleet’ of oil tankers and their operators.

The EU expressed its commitment, including as part of Ukraine’s path to EU accession, to supporting its repair, recovery and reconstruction, in coordination with international partners.

The European Council decisions showed that the EU was strengthening its defence security, helping Ukraine fight Russia, and also taking financial decisions to meet pressures from the US tariffs.

European Commission President Ursula von der Leyen said President Trump and she had a good discussion on the trade tariffs at the G7 Summit in Canada.

Back then, she said, they had agreed to speed up work with a clear goal: an agreement before Mr Trump’s 90-day deadline for trade deals ends on 9 July. However, she said, all options are open to defend European interests.

On the European Council meeting day, she said “today we received the latest US document for further negotiations. We are assessing it as we speak. So our message today is clear: We are ready for a deal.”

At the same time, she said, “we are preparing for the possibility that no satisfactory agreement is reached.”

“This is why we consulted on a rebalancing list. And we will defend the European interest, as needed. In short, all options remain on the table,” the European Commission President said.

The European Commission President said the Council reviewed European defence and said “our Defence Readiness 2030 plan sets out a roadmap.”

She said “We have our Defence Readiness Omnibus proposal. It will enable to fast-track permitting for defence industry, environmental derogations and simplified state aid rules.”

Loans will be available to procure defence needs with Ukraine and from Ukraine defence industry, she said. “The stronger Ukraine becomes, the more it can defend itself against Russia's aggression,” she said.

“This is better for all of us. Beyond our borders, we are building Security and Defence Partnerships to achieve strategic depth. 8 so far, including Japan, South Korea, UK and Canada. And soon, Australia,” President von der Leyen said.

Ukraine is important to European security, she said, and EU supports Ukraine militarily, economically and politically. “Militarily, we recently allocated EUR 1 billion to Ukraine's defence industry through windfall profits from frozen Russian assets.”

“We are on track to reach the target of 2 million rounds of artillery ammunition for Ukraine in 2025; and we are ready to frontload the remaining EUR 11 billion of G7 loans. We know how important it is for Ukraine to ask for this money,” she said.

“Politically, we must keep up the pressure on Russia to engage in serious talks, starting with a real ceasefire. Our 18th sanctions package aims to do just that,” she said.

In his 27 June address to nation, Ukraine President Volodymyr Zelenskyy said “We are scaling up Ukraine’s potential, particularly regarding interceptors… The main point is that the scale of our production and the pace of drone development must be fully aligned with the conditions of the war.”

On Friday, Prime Minister Mark Carney of Canada met his Prime Minister’s Council on Canada-US Relations to get advice on current Canada-US relations. The Council comprises leaders in business, innovation, and policy.

Before Saturday, President Trump terminated all trade talks with Canada. In a post on X, he said “we will let Canada know the tariff that they will be paying to do business with the United States of America within the next seven day period.”

The US President said that “we have just been informed that Canada, a very difficult country to TRADE with, including the fact that they have charged our Farmers as much as 400% Tariffs, for years, on Dairy Products, has just announced that they are putting a Digital Services Tax on our American Technology Companies, which is a direct and blatant attack on our country.”

“They are obviously copying the European Union, which has done the same thing, and is currently under discussion with us, also,” he said. Based on the “egregious Tax,” he said all trade discussions with Canada are being terminated, effective immediately. Canada has stated it will act as per national interest.

News from Canada

Of interest to Indians desiring to emigrate to Canada, the Canadian government’s steps to build its national economy are important.

A day before President Trump terminated all trade tariff talks with Canada, the Bill C-5, the One Canadian Economy Act, received Royal Assent on 26 June, 2025.

The Act will remove federal barriers to internal trade and labour mobility. Comparable provincial or territorial regulations, where they exist, as meeting federal requirements for the movement of goods,
services, and labour within Canada, will be acceptable now.

This will allow more goods, services, workers and business to move freely across provinces and territories.

Another benefit of the new law will be the federal government will immediately move forward on consultations with provinces, territories, Indigenous Peoples and private sector proponents to identify major nation building projects and go ahead with their implementation.


European Commission President Ursula von der Leyen, Prime Minister of Canada Mark Carney and European Council President Antonio Costa at EU-Canada Summit in Brussels on 23 June, 2025


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