The European Commission has announced a deadline until December 2026 to close Ukraine's budget gap, which amounts to €70 billion. This figure includes €40 billion needed for defense needs and €30 billion for the general state budget.
Ukraine's Financial Needs
Next year, Ukraine will face significant financial challenges. In particular, the budget deficit for defense needs could be reduced to €27 billion if NATO countries fulfill their commitments regarding assistance announced in July.
Discussion of Financial Options
EU leaders are set to discuss possible financial options to support Ukraine at a meeting on November 26. According to sources, the European Commission is unlikely to propose using frozen Russian assets to cover the budget gap, as Belgium, where the Euroclear depository is located, opposes this due to risks of legal and economic retaliation from the Kremlin.
Negotiations and Timelines
Officials note that the end-of-year deadline is desirable but not 'set in stone.' Negotiations may take longer, indicating potential difficulties in reaching an agreement.