EU leaders to address Iran war fallout, mutual defense at Cyprus summit

European Union (EU) leaders gathered in Cyprus on Thursday and Friday and would discuss the economic and security fallout from Iran war, especially on soaring energy prices and mutual defense following a recent drone attack on the Mediterranean island.

Defense discussions are expected to focus on Article 42.7 of the EU treaty, which obliges member states to provide aid and assistance to any fellow EU country subjected to armed aggression. On Friday, discussions are supposed to shift to the EU's long-term budget, the Multiannual Financial Framework. The summit will conclude with leaders exchanging views with Middle Eastern counterparts on regional stability and de-escalation.