ITALY: Meloni Talks On Ukraine, Green Deal, Russian Assets Ahead Of EUCO

Delivering the customary address to the Senate ahead of the European Council summit, PM Giorgia Meloni speaks on several issues set to come up in the 23 October leaders' meeting in Brussels. 

• Amid a drive by some countries to utilise ~EUR140bln in frozen Russian assets held in the EU to help fund Ukraine's reconstruction, Meloni says "Further measures concerning Russian frozen assets must respect international law, [and] safeguard [the] financial stability of the eurozone." Comments would appear to signal the Italian gov't is more circumspect on the prospect than others such as Germany.
• Meloni: "Italy calls on the EU to make the flexibility clause aimed at boosting defence spending permanent." The current exemption allows for increased defence spending beyond the EU's fiscal rules up to 1.5% of GDP for four years.
• On support for Ukraine: "Italy has already made it clear that it does not envisage sending soldiers to Ukrainian territory. Our position has not changed."
• On EU's green transition: "We call on the European Commission to correct a number of risky choices made in the past with the Green Deal." In draft conclusions seen by MNI's Policy team, there does appear to have been some movement on the issue of Green Transition amid pressure from national capitals (see 'MNI: EU Summit Draft Shows Pragmatism On Green Transition', 20 Oct).
• Later today, at ~16:15CET (10:15ET, 15:15BST), Meloni will deliver a similar address to the Chamber of Deputies.