European Commission: Ukraine will need 70 billion euros next year

A European Commission document stated that UkraineNext year, it will need more than 70 billion euros to finance its war against Moscow.

The head of the Commission, Ursula von der Leyen, warned in a letter attached to this document, which AFP saw on Monday, that "The size of Ukraine’s financing deficit is large".

He pledged The European Union during a summit of its leaders in October financed Kiev’s war effort during the period 2026-2027.

According to The International Monetary Fund stated in the document, Ukraine’s total financing needs during this period will amount to about 135.7 billion euros, including 51.6 billion in military support during the year 2026 alone.

Frozen Russian Assets

If European support is not secured, Ukraine will face a financial crisis starting from the first quarter of next year, according to the European Commission.

Brussels proposes three options. To prevent this, including the use of Russian assets frozen in the European Union, which is supported by several countries, including Germany, due to its lack of impact on public finances.

There are about 210 billion euros of the assets of the Russian Central Bank confiscated by the Euroclear company, which is headquartered in Brussels.

The Commission proposes to use about 140 billion of them to finance a loan of the same value to Ukraine, provided that it will not repay it unless it receives compensation from Russia.

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