EU Should Provide €90 Billion for Ukraine Over 2026–27, von der Leyen Says

The European Union should cover roughly two-thirds of Ukraine’s financial needs over the next two years, amounting to about €90 billion, European Commission President Ursula von der Leyen said on Wednesday. 

The Gaze informs about it, referring to Suspilne.

Speaking in the European Parliament, von der Leyen stated that estimates by the International Monetary Fund place Ukraine’s total external financing needs for 2026–2027 at €137 billion, underlining the scale of support required as the country continues to resist Russia’s invasion.

“Europe must shoulder its responsibility,” she said. “This is not only about numbers. It is about strengthening Ukraine’s capacity to secure a real and lasting peace.”

Von der Leyen said the European Commission will present EU leaders with two main financing options at the December 18–19 European Council meeting: funding based on Russian sovereign assets frozen in the EU, or joint borrowing by the European Union.

She also pointed to a political agreement reached last week to maintain the long-term immobilization of Russian assets, stressing that the funds would remain frozen until Moscow ends the war and pays reparations to Ukraine for the damage inflicted.

Earlier this month, the European Commission unveiled proposals aimed at securing Ukraine’s financing beyond 2025, including EU-level borrowing and a so-called reparations loan. On December 11, EU ambassadors approved a procedure under Article 122 of the EU Treaty, allowing decisions to be adopted without unanimity.

Belgium, where most of the frozen Russian funds are held at the Euroclear financial services company, has raised concerns about potential legal and financial liabilities. Brussels has urged the EU to thoroughly examine the legal framework surrounding any new financing mechanism. EU foreign policy chief Kaja Kallas said the bloc is prepared to design safeguards to provide Belgium with sufficient legal and financial security.

EU leaders are expected to debate the proposals later this week, as Kyiv seeks long-term financial backing to stabilize its economy and sustain its war effort.

As The Gaze previously reported, the EU ambassadors approved an indefinite freeze on Russian assets in Europe, despite opposition from two member states – Hungary and Slovakia.

Read more on The Gaze: Reparations from Russia: The EU Council Has All the Tools to Provide Money to Ukraine