On Tuesday 14 February, the European Parliament approved by a large majority (535 votes in favour, 63 against and 53 abstentions) the inclusion of ‘REPowerEU’ chapters in national recovery plans under the Next Generation EU recovery plan. These chapters are intended to accelerate the EU’s independence from Russian hydrocarbons and the decarbonisation of the European economy (see EUROPE B13084A15).
Inter alia, this agreement provides for €20 billion in fresh money as well as the...