The European Commission is to draft proposals on how to close the €70 billion financing gap reported by Ukraine for 2027. This was announced by the President of the European Council, António Costa, on Friday after the summit of EU heads of state and government in Brussels. “We agreed that Ukraine’s additional financing needs for 2027 must be clarified. And we asked the European Commission to present a concrete proposal for discussion and adoption,” Costa said, according to the news outlet Eurointegration (European Pravda).
Commission President Ursula von der Leyen said after the summit: “Now it is clear that we have a gap of €70 billion that must be closed.” Ukrainian President Volodymyr Zelenskyy had told EU heads of state and government in Brussels on Friday that the war would cost €155 billion next year. “And we need at least €70 billion from you for our defence,” Zelenskyy said, according to n-tv. According to eurointegration.com.ua, this is an additional need that goes beyond the funds earmarked for 2027 under the EU loan totalling €90 billion.
It is not yet a decision
A senior EU official told Eurointegration (European Pravda) that the proposal was only at the beginning. “It is not yet time to talk about dates and timelines. Now our colleagues in the European Commission need to wake up, learn the news and grasp what they must do next.” It was “not strictly necessary for this proposal to be adopted by the end of the year”. The search for additional funds could continue until the €90 billion loan was exhausted, including the €45 billion tranche earmarked for 2027. Whether the proposal will recommend using frozen Russian assets is currently open.
The news outlet Politico reports, citing two diplomats, that the capitals want to keep examining various options, including another EU loan, funds from allies outside the EU and EU funds not yet exhausted. Swedish Prime Minister Ulf Kristersson said, according to Politico, that nothing had changed on the frozen Russian assets since the last debate: “The money is not lost, but in my conviction nothing has happened since our discussion last time.” In the short term, the money for Ukraine would have to come from other sources.
Patriot missiles and a difficult winter
According to the Kyiv Post, Zelenskyy also asked the EU for 300 Patriot interceptor missiles. “I ask you to really focus on procuring PAC-2 and PAC-3 interceptors for us,” he said before the European Council, according to the report. “Ukraine cannot survive with only two or four missiles from one country every few months. We need a winter package of missiles: 300 Patriot interceptors specifically against ballistic missiles.” The Kyiv Post also reports that Ukraine has almost exhausted its stocks of Patriot interceptors; EU officials had asked member states with Patriot systems, including Greece and Spain, to hand over older missiles, but southern European governments were reticent.
Von der Leyen said, according to n-tv.de, that in the coming winter Russia would try with all means to destroy energy and water supplies. “But we will support you, as we have done in past winters.” The EU had already pledged Ukraine a loan of €90 billion for 2026 and 2027 and began disbursing it in June.
French President Emmanuel Macron said, according to the Kyiv Post, that the allies – the G7 states, European governments and other partners – would examine the financing needs: “We will indeed look at the financing.” At the same time, he announced that Europe was working to supply Ukraine with its own satellite imagery and early-warning systems. “We are working hard to help Ukraine strengthen its defence capabilities through satellite imagery and early-warning systems, which are urgently needed.”
Criticism of Trump’s diesel deal
According to the Kyiv Post, Macron criticised the diesel deal between US President Donald Trump and Russian President Vladimir Putin. “This decision is good for no one. It sends a negative signal. It is an element of division and doubt.” According to the WirtschaftsWoche, the EU heads of state and government regret the deal in their conclusions and call on Washington to do everything necessary to support the Ukrainians – with sufficient weapons and the information they need to repel Russian attacks. Dutch Prime Minister Rob Jetten called the deal “not a good step” and said: “Europe must show that we are not dependent on the US.”
The WirtschaftsWoche also reports that resentment arose in Brussels over the fact that Trump had apparently ordered restrictions on the Starlink satellite service, which is indispensable for Kyiv, and instructed US intelligence services to stop sharing information about impending attacks with the Ukrainian military. The public broadcaster ORF reports that the EU cannot currently replace Starlink.
According to Politico, the summit’s major decisions were postponed – including on the almost two-trillion-euro long-term EU budget. Macron, who is stepping down next year ahead of the presidential election, warned that without agreement by the end of the year he would no longer have a political mandate to conclude one. Costa said, according to Politico, that the heads of state and government had “not spent much time” on a plan to finance Ukraine.
Editor’s note: The figures on financing needs come from different sources and do not match – the European Commission and Zelenskyy cite €70 billion, while the WirtschaftsWoche reports a gap estimated at just under €40 billion in Kyiv’s budget for 2027. No decision on financing has yet been taken.
