EU Insight 06 February 2026

Brussels, 6 February 2026

COUNCIL APPROVES €90 BILLION UKRAINE LOAN AS MOSCOW INTENSIFIES ATTACKS

EU finance ministers have endorsed a legal framework for a €90 billion loan package to Ukraine for 2026‑2027, opening the way for negotiations with Parliament and possible first payments in the second quarter of this year. The scheme, funded via EU‑level borrowing and guaranteed by the EU budget, combines €30 billion in macro‑financial support for Ukraine’s state budget with €60 billion to expand defence industrial capacity and procure military equipment, subject to rule of law conditions and limits on eligible suppliers. The decision comes as Russia has resumed large scale missile and drone strikes on Kyiv and other cities, again hitting energy infrastructure in extreme cold, and as US brokered trilateral peace talks between Ukraine, Russia and the United States resume in Abu Dhabi.

COMMISSION CALLS FOR ACTION TO BOOST EU COMPETITIVENESS

As Member State leaders prepare to discuss the single market in a new geoeconomic context at an informal retreat next week, the Commission is urging joint action to strengthen the EU’s competitiveness. In its 2026 Annual Single Market and Competitiveness Report, the Commission points to rising pressure from global competitors, high energy costs and geopolitical tensions, warning that Europe risks falling behind without faster reforms. The same message underpinned a College of Commissioners seminar on competitiveness, attended by IMF Managing Director Kristalina Georgieva, which fed into the preparation of the leaders’ retreat. Discussions focused on reducing bureaucracy, boosting innovation and closing investment gaps, reflecting the broader agenda set by the Draghi competitiveness report and the Commission’s new policy initiatives.

EU, US AND JAPAN MOVE TOWARDS CRITICAL MINERALS SECURITY PACT

At the inaugural Critical Minerals Ministerial in Washington, the EU, United States and Japan agreed to step up cooperation on securing critical minerals supply chains. Within 30 days, the EU and US aim to conclude a Memorandum of Understanding to strengthen supply chain security by identifying joint projects in mining, refining, processing and recycling, and by coordinating measures to prevent disruptions, support research and share information on stockpiles. Building on this, the three partners intend to draw up Action Plans and explore a plurilateral trade initiative with like‑minded countries, which could include coordinated trade policies such as border‑adjusted price floors or price‑gap subsidies. Discussions will continue in forums such as the G7 and the Minerals Security Partnership.

INTENSIFIED EU INITIATIVES ON SOCIAL MEDIA AGE LIMITS FOR CHILDREN

Spanish Prime Minister Pedro Sánchez has announced plans to prohibit social media use for children under 16, adding Spain to a growing list of EU countries exploring statutory age limits, including France, Denmark, Austria, Italy, Finland and Greece. Australia has already adopted such a ban, while the UK is consulting on similar measures. These initiatives reflect rising concern about the psychological and addictive effects of social media on children and young people. At the same time, platforms and civil society groups warn that robust age‑verification could be technically complex, undermine online anonymity and create new data‑protection risks. The European Parliament has recently adopted a non‑binding resolution calling for an EU‑wide approach to minimum ages for social media access.

COMMISSION REVISES EUROPEAN CODE AGAINST CANCER

This week, the updated European Code Against Cancer was presented ahead of World Cancer Day, five years after the launch of Europe’s Beating Cancer Plan. Developed over four years by more than 60 public health experts and produced by the International Agency for Research on Cancer, the revised Code sets out evidence-based steps to reduce cancer risk, aimed at both individuals and health systems. It highlights lifestyle and public health measures, including vaccination, cancer screening, breastfeeding, reduced alcohol intake, limiting ultra-processed foods and tackling air pollution. Cancer remains a major concern in the EU, with around 2.7 million new cases and 1.3 million deaths expected in 2024. According to the Commission, more than €2.7 billion has already been invested under the Cancer Plan.

COMING UP NEXT WEEK

• 9-12 February: European Parliament Plenary. On the agenda: European defence, climate change, EU competitiveness.
• 10 February: College of Commissioners. On the agenda: Cyberbullying, Drone security and counter-drone security.
• 11 February: Foreign Affairs Council. On the agenda: EU support to Ukraine.
• 12 February: Informal EU Leaders’ retreat. On the agenda: Global geoeconomic context, EU’s internal strategy.
• 12-13 February: Informal meeting of employment and social affairs ministers.