I think this turned out very well. The EU loophole means that elephants from culls, etc may be relocated to captive facilities if it's done in the interest of conserving/propogating the species. What it forbids is export for profit--100 calves to China and the like. It also means that African elephants may still be exchanged between zoos, a possible restriction I hadn't known was even on the table. I don't think this will affect the kind of imports we've had from Swaziland, etc. Or, to look at it another way, no elephants may leave their range countries except those in circumstances like the US elephants. That's a good thing.
HOWEVER, right there hiding in plain sight in the second article is truly bad news:. Botswana has lifted its ban on trophy hunting of elephants. While the world was distracted with the import/export of living elephants for their welfare under CITES, a vital range country has just said it's fine for visitors to come, pay, and export dead elephants they have just killed. This must be what it means to "throw the baby out with the bathwater......"