The European Commission is discussing various options with EU member states on how to close Ukraine’s budget deficit of up to $19 billion in 2026, the Financial Times writes, citing sources.
The options being discussed in the EU include providing military support to Ukraine in the form of off-budget grants, using loans from the existing aid scheme for Kyiv from the G7, and further use of Russian assets frozen in Europe.
As the FT notes, the EU authorities are urgently looking for options to finance Ukraine’s budget deficit in connection with the upcoming conference on its restoration in Rome on July 10-11 and the reduction of support for Kyiv from Washington.
There is growing concern in the European Union about financing Ukraine in 2026, a senior EU official involved in negotiations with Kiev told the publication. According to him, many key partners who were counting on a ceasefire agreement in 2025 are now forced to reconsider their spending and “realize that in any case they will face a financial hole.”
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