EU asks G7 partners to cover Ukraine's 2027 funding hole
The European Commission confirmed Kyiv's estimate of a €70 billion shortfall, prompting Brussels to plan joint debt issuance if non-EU allies do not increase their contributions.
By Jillian Foster ·
European leaders are facing a major financing challenge for next year as outside support for Ukraine drops. The European Union is urging its Group of Seven partners to provide cash to cover a €70 billion budget gap for 2027.
The European Commission validated Kyiv's calculation of the deficit. This figure accounts for military costs after the final weapons shipments from the Biden administration arrive. US President Donald Trump has paused all direct financial aid to Ukraine in the meantime.
A forecast reviewed by the Financial Times shows that allies outside the EU have pledged only €4 billion for next year. This is a steep decline from the €19 billion promised for 2026. The US, UK, Canada, and Japan are projected to contribute a combined total of just €1 billion.
Brussels has begun contingency planning to stabilize Ukraine's finances if NATO and G7 members do not raise their offers. Officials are considering joint debt issuance as a primary option. This proposal is expected to be discussed at a summit scheduled for late November.
The EU is also conducting bilateral negotiations with London, Ottawa, and other capitals. European officials are awaiting the release of UK and Canadian 2027 budgets, hoping those documents will reveal new commitments to Kyiv.
A Commission spokesperson stated that Europe and its member states already provide 80% of the aid promised for 2027. The spokesperson said, "Europe cannot meet Ukraine's financing needs alone," adding that international partners must step up.
Partner nations are responding cautiously. A Canadian finance ministry spokesperson noted that Ottawa has committed CA$27 billion since 2022 but declined to predict what next week's budget would include. Japan's Foreign Ministry disputed the Commission's findings, stating it is considering options based on future developments and G7 discussions. The Commission also estimates that NATO's 32 member states are €13 billion short of their pledge for this year's defense support.
Source: Ukrainska Pravda
