Ukrainian President Volodymyr Zelensky has urged European Union leaders to find an additional 70 billion euros ($79 billion) in funding for Kyiv next year. He made the request on Friday so that Ukraine can keep resisting Russia’s invasion.
Speaking at an EU summit in Brussels, Zelensky said the war would cost 155 billion euros next year. “And we need at least 70 billion euros more from you,” he said, listing defence, weapons and national resilience as priorities. He described the sum as “a realistic amount” and asked leaders to “find this support”.
Existing EU loan and Ukraine’s budget strain
The EU is already paying out instalments on a 90-billion-euro loan intended to cover Kyiv’s funding through the end of 2027. Ukrainian authorities have nonetheless warned that a serious budget shortfall lies ahead, as Russian strikes have badly damaged the country’s economy.
German Chancellor Friedrich Merz said on Thursday that the EU would need to find more money to finance Ukraine. Speaking at the start of a two-day summit devoted to tough budget talks, he said: “We must do everything we can to help Ukraine through the winter and also to help next year.”
Merz added that the bloc would have to increase the funds again to give Ukraine lasting support.
Frozen Russian assets and next steps
The European Commission said it is working with Kyiv to determine a definitive figure for the amount needed next year. Diplomats said EU foreign ministers could discuss the issue in December.
Talks on the new funding have revived calls for the bloc to use about 200 billion euros of frozen Russian central bank assets to support Ukraine. However, there is little momentum behind that idea, as Belgium, where most of the assets are held, remains opposed.
Meanwhile, the EU is pressing other international backers of Ukraine, including Britain, Canada and Japan, to contribute more money to close the gap.
