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Spokesperson: Effect of Russian invasion of Ukraine on energy prices discussed in Versailles

The EU’s response to the side effects of the Russian invasion of Ukraine on supply chains and on energy prices were some of the issues that were at the forefront of the second day of the informal summit of the European Council in Versailles, Government Spokesperson Marios Pelekanos said.

The 27 aim to collectively handle challenges brought about by recent developments, in order to ensure that the consequences for European citizens are kept to a minimum, he noted in statements according to a presidency press release.

Pelekanos also said that the discussion during the second day of the summit “focused on the strengthening of the resilience and competitiveness of Europe’s economy.”

“Despite the important steps made towards recovery over the past year and the positive prospects inherent in Recovery and Resilience Fund projects, the developments following the Russian invasion of Ukraine find European economies facing multiple challenges which we are called upon to handle collectively, so that the effects on European citizens are the smallest possible,” he added.

“The issues discussed included how to deal with the side effects of distortions on supply chains and of the increase in energy prices, as well as how to build a stronger economic base, as well as the new development model and the strategy on the green and digital transition” the Spokesperson said.

(CNA)

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