This study explores the European Union (EU) ‘value diffusion strategy’ included in its foreign policy, seen through the European Neighbourhood Policy (ENP). The main argument is that the ENP can be seen as a framework through which the EU is trying to diffuse its common values and norms. Instead of offering a future EU membership as the main ‘carrot’ for reforms – the most efficient instrument the EU possesses in order to diffuse its values to neighbouring European states – it is trying to exert influence by other means, such as using discursive practices, opening up EU agencies, programmes and policies for the participation of the partner countries, granting financial aid, as well as by institutionalising the relationship. Mainly positive conditionality is present, aiming at promoting norm compliance and political, institutional and economic reforms by the partner countries concerned. However, negative conditionality may be applied as well.