01.10.2026, 21:12
Kiev was denied billions of euros in financing
Source: OREANDA-NEWS
OREANDA-NEWS The European Union (EU) has denied Kiev additional funding for 27 billion euros. This is reported by Bloomberg.
Ukraine has asked for accelerated disbursements of 90 billion euros in financing to cover an unexpected shortfall in military funding this year. In addition, another 27 billion euros were demanded from the EU, as the country's military spending increased.
At a meeting with Ukrainian President Volodymyr Zelensky in New York in September, European Commission (EC) President Ursula von der Leyen said that the EU still has 37 billion euros in budget support in 2026. However, she attributed the allocation of these funds to Kiev's progress in implementing key reforms aimed at combating the shadow economy, increasing tax revenues and convergence with EU legislation, which are currently stuck in parliament.
"We have identified funds to cover Ukraine's budgetary and defense needs for 2026," the EC and Ukraine said in a joint statement.
According to the interlocutors, who wished to remain anonymous because the negotiations are closed, the EU opposed some of Ukraine's proposals and stated that early repayment of the loan would create a new problem in 2027. They also suggested that other partners, including Canada, Norway and Japan, should provide additional funding. It was assumed that the EU loan would cover only two thirds of Ukraine's needs, and the rest would be taken over by the partners.
Earlier, Politico reported on the alarming financial situation of the post-Soviet republic. The country's money for conducting military operations is running out at the most inopportune moment, the article notes. Coupled with the shortage of weapons and the imminent onset of winter, this circumstance can create serious problems for Ukraine, analysts explain.
Ukraine has asked for accelerated disbursements of 90 billion euros in financing to cover an unexpected shortfall in military funding this year. In addition, another 27 billion euros were demanded from the EU, as the country's military spending increased.
At a meeting with Ukrainian President Volodymyr Zelensky in New York in September, European Commission (EC) President Ursula von der Leyen said that the EU still has 37 billion euros in budget support in 2026. However, she attributed the allocation of these funds to Kiev's progress in implementing key reforms aimed at combating the shadow economy, increasing tax revenues and convergence with EU legislation, which are currently stuck in parliament.
"We have identified funds to cover Ukraine's budgetary and defense needs for 2026," the EC and Ukraine said in a joint statement.
According to the interlocutors, who wished to remain anonymous because the negotiations are closed, the EU opposed some of Ukraine's proposals and stated that early repayment of the loan would create a new problem in 2027. They also suggested that other partners, including Canada, Norway and Japan, should provide additional funding. It was assumed that the EU loan would cover only two thirds of Ukraine's needs, and the rest would be taken over by the partners.
Earlier, Politico reported on the alarming financial situation of the post-Soviet republic. The country's money for conducting military operations is running out at the most inopportune moment, the article notes. Coupled with the shortage of weapons and the imminent onset of winter, this circumstance can create serious problems for Ukraine, analysts explain.
Комментарии