About EU

• The European Union (EU) is a unique economic and political union between 27 European countries. 
• The United Kingdom, which had been a founding member of the EU, left the organization in 2020.
• The EU was created by the Maastricht Treaty, which entered into force on November 1, 1993. The treaty was designed to enhance European political and economic integration by creating a single currency (the euro), a unified foreign and security policy, and common citizenship rights and by advancing cooperation in the areas of immigration, asylum, and judicial affairs. 
• Additionally, the Treaty of Lisbon, enacted in 2009, gave the EU more broad powers that included being authorized to sign international treaties, increase border patrol, and other security and enforcement provisions.
• EU’s headquarters is currently located in Brussels, Belgium.
• Currently, the euro is the official currency of 19 out of 27 EU member countries which together constitute the Eurozone, officially called the euro area.

Why in News?

• The European Union has agreed to a new round of sanctions against Russia on the first anniversary of the Russia-Ukraine conflict. 
• The package is the tenth to be adopted by the EU member states. 

https://newsonair.gov.in/News?title=EU-agrees-to-new-round-of-sanctions-against-Russia-on-first-anniversary-of-Russia-Ukraine-conflict&id=456438