European Union
Background
The European Union is a political and economic union of 27 member states located primarily in Europe, with a combined population of more than 450 million and a total area of 4,233,255 square kilometers as of 2025. Its core mandate is to support an internal single market built on a common legal framework, allowing the free movement of people, goods, services, and capital among member states in the policy areas where they have agreed to act jointly. The EU also coordinates common policies in trade, agriculture, fisheries, regional development, justice and home affairs, and external relations, making it one of the largest integrated economic and regulatory systems in the world.
Institutionally, the EU operates as a supranational organization with features often described as combining both federal and confederal elements. It is not a state, but it has legal personality, common institutions, and the ability to adopt rules that apply across member states in agreed areas. The union represents itself internationally, maintains diplomatic missions, and participates as a unified actor in bodies such as the United Nations, the World Trade Organization, the G7, and the G20. Its major internal mechanisms include the customs union, the Schengen framework for passport-free travel among participating states, and the eurozone, which comprises the EU members that use the euro.
The EU’s origins lie in postwar European integration, beginning with the Inner Six and earlier cooperative bodies such as the European Coal and Steel Community, the European Economic Community, and the European Atomic Energy Community. It was formally established by the Maastricht Treaty in 1993 and became a legal personality under the Treaty of Lisbon in 2009, later expanding through successive accessions to reach 27 members after the United Kingdom’s withdrawal in 2020. In economic terms, EU member states accounted for about one sixth of global nominal GDP in 2024, and the union continues to shape regional trade, regulatory standards, and external policy. Recent context includes planned additional restrictions on Russian hydrocarbons, including LNG, reflecting the EU’s continuing use of market access and energy policy as tools of collective action.
Timeline
Russian firms were urged to redirect their oil and gas exports away from Europe.
Meeting on the Situation on the Global Oil and Gas Market
Documents
Meeting on the Situation on the Global Oil and Gas Market
Putin said the Middle East conflict is disrupting oil and gas markets, urged Russian firms to redirect exports from Europe, and told the government and central bank to monitor debt reduction.