Finance ministers examined in particular ways to prevent sanctions from being circumvented, as well as ways to strengthen them, and discussed economic issues related to the reception of Ukrainian refugees in the EU, according to an EU Council statement.
The meeting was joined by Ukrainian Finance Minister Serhiil Marchenko via teleconference, with whom the Finance Ministers discussed the progress of the EU's financial and material support to Ukraine.
Regarding the impact of the war in Ukraine, the Council based its discussion on a review of the situation presented by the Commission, focusing in particular on measures taken at national and EU level to address increases in energy and raw material prices. In this context, they underlined the importance of coordinating national support plans.
The other major issue addressed by finance ministers was the progress on the transposition into EU law of the global agreement on a 15% minimum tax rate for multinational companies.
Finance ministers also discussed the implementation of the 2021 Council conclusions on strengthening the EU's economic architecture for development, building on the initiatives of the European Investment Bank and the European Bank for Reconstruction and Development for economic support to Ukraine.
In other agenda items, Finance Ministers adopted conclusions in relation to the strategic autonomy of Europe's economic and financial sector, as, as noted, "the current geopolitical context has made even more critical the need for concrete measures in this direction."
Source: CNA
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