Expenditure fate: Ukraine will spend €90 billion of the EU loan before the end of 2027
The European Union is considering approving a new loan to Ukraine at the expense of frozen assets of the Russian Federation, "Izvestia" found out. It will be required if Kiev uses up the already allocated loan of €90 billion ahead of time. Earlier, Zelensky requested additional funding from the EU in the amount of $27 billion. Brussels can allocate this money, but not in excess, but from an already approved loan, just ahead of schedule, a European diplomatic source explained to "Izvestia". But then his funds will not be enough until the end of 2027. In addition, 800 million euros will soon be taken from the loan to finance civil needs. Attempts to seize Russian assets may intensify in the coming months, because during 2027, opponents of sponsoring Ukraine may strengthen their positions during the elections in Germany, Greece, Spain and France.
EU to speed up payments to Ukraine
Due to the growing defense budget deficit, the Ukrainian authorities in early September requested an additional $27 billion (about €23.5 billion) from the European Union by the end of the year. According to The New York Times, Kiev's demand surprised and greatly worried European officials. To secure new funding, Vladimir Zelensky met with EC President Ursula von der Leyen in New York on September 22. Bloomberg sources called the meeting "tense."
The EU still plans to allocate the requested €23.5 billion to Ukraine, but not in excess of the already approved amounts, but from a previously approved loan of €90 billion, a European diplomatic source told "Izvestia". However, the problem is that this entire loan is designed for two years: 45 billion euros each in 2026 and 2027. Brussels may "adjust the schedule for allocating funds and give most of them this year," the source said. But then next year there is a shortage of planned funds.
At the same time, the EU Council approved the next tranche to Ukraine for the Ukraine Facility, which is another program designed exclusively for civilian needs — maintaining macro—financial stability, restoring and modernizing the country, the work of public administration and reforms. But they also want to take funds for this in the amount of €800 million from a loan of €90 billion. Obviously, there is less and less EU money intended for Ukraine.
And Brussels is looking for a way out. In particular, it is considering the possibility of using Russia's frozen assets to further finance Kiev, the head of the Ukraine–EU Parliamentary Cooperation Committee in the European Parliament (EP), Pekka Tovery, told "Izvestia".
— The EU is working on financing for the period after 2027. Either at the expense of frozen Russian assets, or in some other form," he said.
At the moment, according to official data, Ukraine has already received about €15 billion from a loan of €90 billion, with most of the funds intended for the production of drones, the purchase of interceptor missiles and the development of the military-industrial complex. Egor Sergeev, a senior researcher at the MGIMO Institute of International Studies at the Russian Foreign Ministry, believes that Brussels will satisfy Kiev's new requests, but will not provide the entire requested amount. This is necessary both to achieve agreement between the countries and to demonstrate to the public that the EU has become more restrained against the background of corruption scandals in Ukraine, the expert believes.
At the same time, in exchange for financing, the union requires Kiev to raise taxes and bring laws in line with European ones. The EU is annoyed by the slow pace of reforms in Ukraine, the Euractiv portal writes. However, even the money that reaches Kiev ends up mostly going to orders for the European military industry. Therefore, in reality, most of the funds remain in Europe.
The issue of the lack of funds to sponsor the Armed Forces of Ukraine in Europe is being raised more and more often. The European Union has objectively reached the limit of its capabilities in terms of financing the ever-growing needs of the Kiev regime, Vladislav Maslennikov, director of the Department of European Problems at the Russian Foreign Ministry, told "Izvestia" earlier. As a result, other items of the union's budget are "under the knife". For example, it is proposed to reduce the "Global Europe" assistance program by 80 billion euros. A similar fate awaits financing in the field of agriculture and regional development, which takes more than half of the EU budget.
Ukraine's attempts to achieve a temporary ceasefire are primarily aimed at the Europeans in order to show them the complexity of Kiev's situation and strengthen financial support. Russia will not pause in conducting a special operation during negotiations on a peaceful settlement in Ukraine, Foreign Minister Sergei Lavrov said. The minister noted that "Europe wants exactly this, with the same uncomplicated goal of getting a break and replenishing the depleted military arsenals of the Kiev regime."
Which EU countries are against continued financing of Kiev
In 2027, Europe will host a series of important electoral campaigns. The parliament will be chosen by residents of Greece, Spain, Italy, Poland and Finland. Therefore, EU leaders are interested in confiscating the assets of the Russian Federation before these elections take place, the press bureau of the Foreign Intelligence Service (SVR) of the Russian Federation reported on the eve. The "window of opportunity" for the seizure of Russian assets may simply close if, following the results of the vote, governments are formed that are less favorable to the Kiev regime and disagree with the prospect of fomenting a major war in Europe," the department noted.
The European Union is already beginning to divide along the line of support for Ukraine, said Natalia Yeremina, professor at St. Petersburg State University, in an interview with "Izvestia". According to her, the countries of the association are beginning to find it difficult to supply weapons from their stocks, which take up an increasingly significant part of the budget. Next year will be critical for both Ukraine and the EU countries in terms of continued financing, Eremina believes.
The number of skeptical players in the EU may increase, suggests Egor Sergeev. In particular, the German AfD party, which opposes the financing of Ukraine, won elections in two land parliaments, its rating reaches 30%. Marine Le Pen, a candidate for president of France and leader of the parliamentary faction of the "National Unification" party, said that France cannot afford to continue sponsoring Kiev in the current financial situation. The probability of these forces coming to power is getting higher. Dissatisfied with Ukraine's financing may strengthen their positions in Greece, Spain and Poland.
At the same time, the EU leadership will strive to maintain the current volume of aid to Ukraine. This is the basis of the association's global positioning, a key element of its ideological structure, and its main foreign policy asset, emphasizes Egor Sergeev. To reduce the financial burden, Brussels will try to attract partners: Great Britain, Canada, Norway and Japan. It is noteworthy that the Canadian provinces of Alberta and Ontario, as well as Oslo, were previously visited by Vladimir Zelensky.
However, if until recently dissatisfaction with the growing amounts of sponsorship of Ukraine was the lot of individual politicians from Hungary and Slovakia, as well as the opposition in Western Europe, now it is gradually becoming widespread. However, the situation can change radically only as a result of a change in the policies of Germany and France, one of the main sponsors of the support. In the meantime, the European Commission continues to diligently prolong the conflict, without giving any concrete proposals for a peaceful settlement.
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