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Ukraine has requested an additional €23 billion from the European Union after already receiving a €100 billion loan. The New York Times revealed Kiev's new request, presented by President Volodymyr Zelensky to allies last month during celebrations and meetings marking the country's Independence Day.
Ukraine, the newspaper reports, is facing an unexpected gap in its defense budget: the $23 billion would be needed to fill the gap this year. Ukraine's request, the New York Times notes, "has surprised and raised concerns among many officials across Europe, at a time when Kiev—short of air defenses to protect itself from continued Russian drone and missile attacks—is facing one of its most critical phases since 2022," the year the war triggered by Russia's invasion began.
The dire state of Kiev's budget, the newspaper writes, has surprised European officials, according to four diplomats who spoke on condition of anonymity because they were not authorized to make public statements. Two European officials said they questioned the efficiency of the spending or suggested that needs were overestimated.
Kiev's partners are trying to determine the source of the deficit and its exact size. Sending additional funds is not ruled out, the NYT writes, while Ukraine has made similar requests to Great Britain, Canada, and Japan.
In August, Zelensky recalled the role of former Defense Minister Mykhailo Fedorov in managing funds and therefore the budget.
Fedorov, removed from his post, revolutionized Ukraine's war machine by focusing on technological breakthroughs and achieving significant results on the ground. The Defense Ministry "used funds that had been allocated for the end of this year, and, of course, the overall deficit amounts to $27 billion," according to the NYT, during a meeting with European and British leaders on August 24. Fedorov, according to the newspaper, denied the existence of such a large budget gap for his operations. Ukraine has not yet disclosed its detailed budget needs. Zelensky has referred generically to a few items: armaments, military salaries, and compensation for the families of fallen soldiers.
According to Roksolana Pidlasa, head of the parliamentary budget committee, a deficit of approximately €6,4 billion was forecast at the beginning of 2026. However, in the first eight months of the year, military spending increased by 17% compared to 2025.
The EU is reportedly exploring ways to come to Ukraine's aid. In April, the European Union approved a €100 billion aid package, which is expected to be disbursed in two installments: half in 2026 and the other half in 2027. Accelerating the disbursement process may be the only viable solution to quickly provide Ukraine with the necessary liquidity, the NYT claims, noting that "there is no agreement yet." Ukraine is also pushing for the European Union to seize frozen Russian assets: over $200 billion is held at the Belgian financial services firm Euroclear. The idea of using these resources to finance Ukraine evaporated last year. Now, the American newspaper concludes, "Sweden and other EU member states are trying to revive the idea."
international/foreign
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