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Good afternoon.

Let's now move to the press conference following the informal meeting of the European Council.

I will not present our speakers, and I will immediately give the floor to President Costa. Good afternoon, 2.

Thank you President Christodoulides, dear Nikos, for hosting this informal European Council. Yesterday in Ayana. And today in leftquassia. OK, OK, perfect. Much better. OK, I need to come.

Mr President, today, Europe is facing a challenging security environment, one that requires Europe to have a 360 degree vision for sustainable peace and security,

and to act upon it, be it in Ukraine or in the Middle East.

Our meeting in Cyprus in the current context carries an important symbolism.

It demonstrates the European Union's firm and unequivocal support to Member States most affected by the ongoing conflict in the Middle East.

For Cyprus, this situation is not an abstract issue.

That is why it is so important to be here today.

By your side, dear Nicos, and to send a clear message of European unity and solidarity.

Cyprus is a vital anchor of cooperation and European engagement in the region.

The security situation in the Middle East and the economic consequences it has on Europe and on European citizens were the main themes of our discussions.

The recent ceasefires between the United States and Iran, Israel and Lebanon. These are welcome developments.

Now all parties must engage in good faith to achieve peace.

The European Union is not part of the conflict, but we will be part of the solution.

We support diplomatic efforts towards reaching a negotiated solution to this conflict.

Our principles are clear real peace can only be achieved by defending international law in a consistent and principled way. Our priorities are equally clear.

First, to restore freedom of navigation in the Strait of Hormuz, second,

to work towards a stable and lasting ceasefire that could pave the way to sustainable peace in the region.

Third and finally, there cannot be a stable Middle East with a nuclear armed Iran,

and the European Union will continue to contribute to this objective, as it has in the past.

We met with leaders of Jordan, Lebanon, Syria, Egypt and the Gulf Cooperation Council.

Our partners know they can count on us.

We have been in intense contact with them.

A few days after the start of the conflict in the Middle East,

President von der Leyen and myself organized a video conference with all the leaders from the region to exchange on the situation and offer the support of the European Union.

Just last week, I was in the Gulf to meet leaders from Saudi Arabia,

the United Arab Emirates and Qatar on the back of the High Representative's own visit.

In parallel Under the leadership of France, together with the United Kingdom, a coalition of more than 50 countries,

is preparing a multilateral defensive mission to restore freedom of navigation in the Strait of Hormuz when the necessary security conditions are met.

During our meeting,

we discussed the Union's readiness to respond to this challenging geopolitical and security environment.

That includes defining more precisely how our mutual assistance clause can be used in practice.

Yesterday, the High Representative updated us on ongoing work on this matter.

The conflict in the Middle East is having a dire impact on the prices of fossil fuels,

dragging down growth and directly affecting the lives of citizens and companies.

In March, European leaders agreed on the need for measures to respond to this crisis.

The communication presented this week by President von der Leyen contains an important set of measures and recommendations.

Coordination is key, and we are ready to step up our response.

We will continue monitoring the situation very closely and adapt our approach accordingly.

In the longer term,

There is only one game in town for Europe speeding up our energy transition and accelerating the deployment of home grown clean energy sources.

That is the only way to reduce dependencies and guarantee our energy security.

This morning We had an exchange on our next long term budget,

the so called Multiannual Financial Framework.

We have a collective responsibility to reach an agreement by the end of the year.

Only in this way can we make sure that the next MFF hits the ground running from the beginning of 2028.

Matching our ambitions with the necessary resources will be key.

Our debate today confirmed that new own resources will have to play an important role to fund the budget. There is still work to be done.

The Commission's new own resource package proposal will continue to be the basis for this further work.

There was also openness to consider other proposals,

namely put forward by the European Parliament.

Our discussion provided important guidance for the next step. Good luck, Nicos. We will return.

We will return to the MFF discussion in June on the basis of the first proposal with figures prepared by the Cypriot Presidency. So to conclude.

This is how Europe is responding to the challenging geopolitical environment.

We are supporting Ukraine in its defense against Russian aggression.

We are playing an active role in achieving lasting peace in the Middle East.

We are protecting our citizens and companies from economic shocks,

and we are preparing the ground for an ambitious long term European Union budget.

Thank you, dear Nikos, for your hospitality and for offering us this wonderful setting for our meeting. Thank you.

Thank you, I now give the floor to President Cristo Guides. Yeah.