The EU has committed to a €90 billion loan for 2026 and 2027, intended to cover about two-thirds of Ukraine’s needs. Brussels had expected other partners — including Canada, Japan, South Korea, Australia and Norway — to provide another €45 billion, but much of that money has been slow to arrive as other governments have yet to firm up or disburse the support Brussels expected.
While calls to help Ukraine defend itself are not new, the projected 2027 bill has grown as Russia intensifies its assault, the U.S.-Israeli war with Iran drives up costs and Washington shifts toward positions more favorable to Moscow — leaving Europe and other allies to shoulder more of the cost of keeping Kyiv afloat.
Brussels is heading into negotiations about closer economic and defense ties with London and Ottawa. Diplomats and EU officials said they do not expect a formal bargain, but that support for Kyiv from the EU’s partners is likely to shape the political climate around the talks. Like others in this article, they were granted anonymity to speak about the sensitive diplomacy.
The EU has also raised Ukraine’s 2027 financing needs at meetings of the International Monetary Fund, the G7 and the G20, as well as with Gulf Cooperation Council countries.
“During my meetings in Bangkok, the need to secure financial support for Ukraine in 2027 was a prominent topic,” European Economy Commissioner Valdis Dombrovskis told POLITICO, referencing last week’s IMF and World Bank Group meetings. He said he called for “broad burden sharing and stressed the importance of international partners each doing their part as Ukraine continues fighting Russian aggression.”
All the EU officials and diplomats stressed that the push was not a criticism of the U.K. or Canada, both of which are strong supporters of Ukraine. The point, they said, is that Kyiv’s needs have grown.