EU leaders prepare ‘concrete’ measures on defense financing, sources say

The European Union is expected to announce “concrete” measures on boosting defense financing this week, sources told CNBC, as Europe and the United States clash over support for Ukraine.

The 27 EU leaders will gather in Brussels on Thursday for a meeting dedicated to defense and support for Ukraine. It follows two particularly tense moments in U.S.-Europe relations: Vice President JD Vance’s speech in Munich in mid-February when he criticized European leaders; and the on-the-record clash between the U.S. administration and Ukrainian President Zelenskyy in the Oval Office on Friday.

European leaders are trying not to alienate President Donald Trump after he criticized Zelenskyy for “gambling” over a potential World War III. At the same time, Europeans know they have to take immediate action to ensure that Ukraine continues to receive the support it needs — and any further aggression from Russian President Vladimir Putin is prevented.