This Week in Finance — Brussels (#12, 2026)
EU adopts insolvency law harmonisation; €1.4bn Russian asset proceeds transferred to Ukraine; Commission advances €90bn Ukraine Support Loan.
March 29, 2026 to April 04, 2026
EU adopts insolvency law harmonisation; €1.4bn Russian asset proceeds transferred to Ukraine; Commission advances €90bn Ukraine Support Loan.
📋 In This Week's Newsletter
• 📅 This Week's Calendar in Brussels
• 🇪🇺 European Commission
• ⚖️ EU Legislation
• 🤝 EU Council
• ✒️ EP Committee Work
• 📚 What We're Reading This Week
This Week's Calendar in Brussels
- Committee on Budgets (BUDG): On April 08, the European Parliament's Committee on Budgets (BUDG) is scheduled to meet. Agenda includes: * * *; ------; 2026 Budget: Other SectionsRapporteur: Matjaž Nemec (S&D)- European Ombudsman: n° 1/2026 - Any other transfer request received.
- Committee on Economic and Monetary Affairs (ECON): On April 08, the European Parliament's Committee on Economic and Monetary Affairs (ECON) is scheduled to meet. Agenda includes: Chair’s announcements; Date of next meetings; Economic Dialogue with Valdis Dombrovskis, Commissioner for Economy and Productivity; Implementation and Simplification.
- Committee on Economic and Monetary Affairs (ECON): On April 09, the European Parliament's Committee on Economic and Monetary Affairs (ECON) is scheduled to meet. Agenda includes: Chair’s announcements; Date of next meetings; Economic Dialogue with Valdis Dombrovskis, Commissioner for Economy and Productivity; Implementation and Simplification.
European Commission
EU transfers €1.4 billion in revenue from immobilised Russian assets for Ukraine support
On 31 March 2026, the European Commission announced the transfer of €1.4 billion in windfall profits generated from interest on immobilised Russian Central Bank assets. These assets, held by central securities depositories, are subject to EU sanctions adopted in response to Russia’s invasion of Ukraine. The proceeds, accumulated during the second half of 2025, mark the fourth transfer of this kind. Of the total, 95% will be channelled through the Ukraine Loan Cooperation Mechanism, with the remaining 5% allocated to the European Peace Facility. Regulation 2025/2600 underpins the prohibition on returning such assets to Russia. President Ursula von der Leyen and Commissioner Valdis Dombrovskis reiterated the EU’s ongoing commitment to Ukraine’s financial and military resilience.
Commission prepares €90 billion Ukraine Support Loan and defence procurement measures
On 31 March 2026, the European Commission advanced preparatory steps for disbursing €90 billion in support to Ukraine for 2026–2027, including budgetary assistance and defence procurement. A proposal was adopted for a Council implementing decision to approve €45 billion of this amount for 2026, following the Commission’s assessment of Ukraine’s financing strategy. The package includes a decision to allow procurement derogations for drones, addressing urgent defence needs. Of the 2026 tranche, €16.7 billion is earmarked for budget support and up to €28.3 billion for Ukraine’s defence industry. The Commission underscored that these measures are subject to conditions on rule of law and anti-corruption, and further legal arrangements are pending Council approval.
EU Legislation (Official Journal)
Directive (EU) 2026/799 harmonises key aspects of insolvency law across Member States
Directive (EU) 2026/799 of 30 March 2026 establishes minimum harmonisation for insolvency proceedings in the EU, aiming to support the internal market and the Capital Markets Union. The Directive introduces common rules on avoidance actions, tracing of insolvency assets, pre-pack proceedings, directors’ duties to file for insolvency, and creditors’ committees. It sets deadlines for Member State transposition by January 2029 and includes mechanisms for information access and transparency, with carve-outs for financial institutions and insurance undertakings.
Commission Implementing Regulation (EU) 2026/819 updates ISIL and Al-Qaida sanctions list
Commission Implementing Regulation (EU) 2026/819 of 1 April 2026 amends Council Regulation (EC) No 881/2002 for the 355th time. The update adds two entries to the list of persons and entities subject to asset freezing, following the UN Security Council Sanctions Committee’s decision of 26 March 2026. The Regulation entered into force upon publication in the Official Journal.
Council Implementing Regulation (EU) 2026/775 amends restrictive measures against Iran
Council Implementing Regulation (EU) 2026/775 of 30 March 2026 revises Annex IX of Regulation (EU) No 267/2012 by removing six persons and two entities from the list of designated individuals and updating five entries. The amendments follow a review by the Council and are effective the day after publication.
EU Council
Upcoming Eurogroup to examine economic impact of Middle East conflict
The Eurogroup will meet on 4 May 2026 to assess the Middle East conflict’s effects on the EU economy. Ministers will discuss operational resilience of banks, focusing on cyber security and artificial intelligence.
EP Committee Work
ECON Committee draft opinion on European Fund for 2028–2034 cohesion and prosperity
On 30 March 2026, the Committee on Economic and Monetary Affairs (ECON) published a draft opinion on the proposed regulation establishing the European Fund for economic, social and territorial cohesion, agriculture and rural, fisheries and maritime, prosperity and security for 2028–2034. Rapporteur Thomas Bajada addresses amendments to Regulation (EU) 2023/955 and Regulation (EU, Euratom) 2024/2509.
JURI Committee issues draft opinion on European Business Wallets regulation
On 1 April 2026, the Committee on Legal Affairs (JURI) released a draft opinion on the proposed regulation for European Business Wallets. Rapporteur Axel Voss evaluates the proposal’s legal aspects, focusing on digital identity infrastructure for businesses.
ITRE Committee draft report on European Business Wallets regulation
The Committee on Industry, Research and Energy (ITRE) published a draft report on 1 April 2026 regarding the proposed regulation on European Business Wallets. Rapporteur Eero Heinäluoma outlines the potential impact of business wallets on digital services and industrial competitiveness.
What We're Reading This Week
- Equivalence of non-EU financial services frameworks: Regulators assess whether non-EU financial services regimes offer comparable standards for market access and regulatory cooperation.
- EUROPEAN COMMISSION Brussels, 30.3.2026 C(2026) 2174 final COMMISSION IMPLEMENTING DECISION of 30.3.2026 on the financing of th: European Commission approves new funding measures to support designated EU programs beginning March 2026.
- Better sharing of data between EU financial services authorities: EU financial regulators enhance data-sharing to improve oversight, bolster market stability, and streamline cross-border supervision.
- Germany and Italy propose EU ‘kill switch’ for global stablecoins: Germany and Italy are urging the EU to establish a mechanism that could block or suspend global stablecoin operations in Europe.
- 10 years of the Panama Papers: The investigation that brought in €275 million for France: A decade after the Panama Papers leak, France has recovered €275 million through related tax investigations and enforcement actions.
