EU Says It May Need Billions to Back Ukraine
Brussels confirmed on Thursday that the interest-free loan to Kyiv has been finalized and is expected to begin disbursements in the second quarter of 2026. European Commission President Ursula von der Leyen described the approval as “a good day for Ukraine and Europe.”
The agreement came shortly after a political shift in Hungary, where the party of longtime Prime Minister Viktor Orban—who had been blocking the transfer of funds for months amid an energy dispute with Ukraine—was defeated in parliamentary elections.
However, the funding plan is already being questioned. According to reports, EU officials and diplomats believe the current package may not be sufficient to sustain Ukraine through the coming years of the conflict. One assessment suggested that the financial support was intended to help Ukraine remain funded until 2028, but this outlook may no longer be realistic.
Diplomatic sources also indicated that Ukraine’s budget shortfall is widening, with an estimated additional €19 billion required for 2027 alone. This raises the possibility that the EU could face pressure to design another large-scale financial package within a year.
European Council President António Costa stated that Ukraine would only be expected to repay the funds after receiving reparations from Russia following the end of the conflict. Moscow has dismissed such expectations, arguing that they are unrealistic.
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