Ukraine has approached its international partners with a new request for tens of billions of euros, even though the European Union has only begun providing the previously agreed €90 billion support package through the end of 2027. Brussels acknowledges the scale of the problems Kyiv is facing, but Ukraine’s new needs are prompting increasingly difficult political and budgetary debates.
This was reported by Le Monde. The newspaper notes that the issue of additional aid could once again bring the EU back to the dispute over €210 billion in Russian state assets frozen in Europe.
Ukraine says it needs billions more
On September 29, representatives of Ukraine’s main donors — the European Union, G7 countries, Norway and South Korea — met with a Ukrainian delegation in Brussels. Representatives of the International Monetary Fund also took part in the talks.
The main topic was an assessment of Ukraine’s financial needs for the coming years.
Back in August, President Volodymyr Zelenskyy told partners that Ukraine faced a shortfall of about $27 billion, or €23 billion, to cover its financial needs in 2026 alone.
Finance Minister Serhii Marchenko said in Brussels that the Ukrainian side had found ways to reduce that amount. However, the problem for next year appears even larger.
According to Marchenko, Ukraine will need to find about €69 billion in 2027: roughly €40 billion for military spending and another €29 billion to finance the functioning of the state.
Kyiv explains the growing needs, in particular, by the intensification of Russian strikes, which are damaging the economy and reducing tax revenues. Another factor is the blockade of grain exports through the Black Sea, which, according to Le Monde, has caused Ukraine’s agricultural exports to fall by 60%.
“It feels like we are pouring water into the desert”
The EU has already agreed on €90 billion in joint borrowing to support Ukraine in 2026 and 2027. The plan provides for €30 billion a year to arm Ukraine and another €15 billion to finance the state budget.
However, Kyiv’s new request, Le Monde writes, has caused irritation among some European diplomats.
“It feels like we are pouring water into the desert,” one European diplomat told the newspaper, commenting on the constant need to find new funds for Ukraine.
At the same time, Le Monde stresses that this frustration comes against the backdrop of the extremely difficult situation in Ukraine itself. The problem for Brussels is not only the scale of Kyiv’s financial needs, but also the timing of the new request.
EU countries are currently negotiating the bloc’s next multiannual budget. It includes a separate €100 billion support package for Ukraine for 2028-2034.
At the same time, Germany and a group of countries advocating tighter control over European spending are pushing for cuts to the EU’s overall budget. Under these conditions, announcing new large aid packages for Ukraine is becoming politically more difficult.
Brussels points to €15 billion that has not yet been used
Another issue raised by European diplomats is €15 billion in budget support that Ukraine has not yet received.
Its disbursement is linked to the implementation of a number of reforms, particularly in the fight against corruption.
“Our message to our Ukrainian friends is clear: implement the agreed reforms so that we can continue to provide you with financial support,” said EU Enlargement Commissioner Marta Kos.
Serhii Marchenko, for his part, expressed hope that after the Verkhovna Rada resumes work in mid-October, parliament will make progress on meeting the requirements.
At the same time, the minister noted that some EU proposals involve introducing new taxes.
According to Marchenko, raising taxes now is difficult because Ukrainian businesses are already under severe pressure.
€20 billion could go toward drones and interceptors
Before approving new financing, the European Commission proposes using the financial instruments already available to the EU.
One option is funding from the €150 billion joint loan mechanism created to finance Europe’s rearmament.
About €20 billion of that amount remains unallocated. Under a proposal by European Commission President Ursula von der Leyen, the money could be used to purchase drones and other interceptors for the Ukrainian military.
However, the loans would have to be repaid by the EU member states that use them. According to Le Monde, Paris and Berlin are not ready to take on such obligations under current conditions.
Another source could be the European Peace Facility, which has €6.6 billion available.
Europeans could also bring forward part of the funds earmarked for Ukraine in 2027 under the €90 billion loan. But, as the newspaper notes, this would only postpone the problem.
Europe returns to the issue of €210 billion in Russian assets
The largest potential source of financing remains frozen Russian state assets.
Around €210 billion in such funds are blocked in Europe, of which approximately €180 billion are held at the Belgian depository Euroclear.
Ukraine has long called for these assets to be confiscated and used to finance the country’s defense and reconstruction.
In 2025, Germany, with the support of Sweden and the Netherlands, had already advocated such an option. Belgium, however, strongly opposed it over concerns about legal consequences, and EU countries ultimately agreed on a €90 billion joint loan.
Berlin and its allies are now returning to the idea.
However, Belgium’s position, according to Le Monde, has not changed significantly, while the European Commission has yet to find a legal framework that could protect the country from possible lawsuits.
Fabian Zuleeg, director of the European Policy Centre, believes that even the use of Russian assets would not solve the problem for long.
According to him, frozen Russian funds could only provide a temporary solution, while Europe needs to create a permanent mechanism for financing Ukraine — both during the war and for the country’s future reconstruction.
