The EU is not yet ready to cover Ukraine’s deficit of 23 billion euros: Dombrovskis named the condition
Єврокомісар з питань економіки Валдіс Домбровскіс
European Commissioner for Economic Affairs Valdis Dombrovskis said the EU should first assess Ukraine’s financial needs in detail and only then determine how to cover a possible deficit. He said that due to the high intensity of the war and the increase in Russian attacks, Kyiv’s financing needs could increase.
He said this in an interview with Euronews.
According to the European Commissioner, Brussels needs to receive a detailed explanation of Ukraine’s additional needs. This includes, in particular, the financing deficit of 23 billion euros declared by Kyiv.
The Ukrainian authorities explain that these funds are necessary for the maintenance of military personnel, social support for the population, and the purchase of weapons.
At the same time, the EU is not ready to agree to the declared amount without additional assessment. Brussels wants to understand what this deficit consists of, how great Ukraine’s needs really are, and how they can be financed.
“First of all, we need to find out what exactly these additional financing needs are, and then discuss with the Ukrainian authorities how we will finance them,” Dombrovskis said.
He also noted that the €90 billion loan envisaged for Ukraine allows for certain adjustments. Earlier, Ukrainian President Volodymyr Zelenskyy proposed that the EU accelerate payments under this program.
However, such a move would mean a departure from the EU’s original schedule, which called for €45 billion to be allocated to Ukraine in 2026 and another €45 billion in 2027. Brussels fears that using the funds early could lead to their exhaustion next year.
A separate issue remains control over the use of European aid. Dombrovskis stressed that the EU pays significant attention to proper financial management and the fight against corruption within the framework of support programs for Ukraine.
As a condition of granting the loan, Kyiv agreed to allow Brussels to monitor its bank accounts. In addition, the European Commission is reviewing contracts for the purchase of weapons.
As of now, out of the 45 billion euros earmarked for Ukraine for 2026, Kyiv has received 3.2 billion euros in budget and 8.35 billion euros in military assistance.
Another possible source of funding for Ukraine is frozen assets of the Russian Central Bank. The EU controls about 210 billion euros of such assets, most of which are stored in the Belgian depository Euroclear.
In particular, Dombrovskis stressed that the European Union must first conduct a proper assessment of Ukraine’s financial situation. According to him, the war continues with high intensity, and Russia is intensifying its attacks, which creates additional pressure on the Ukrainian economy.
It was previously reported that the European Commission approved Ukraine’s application to purchase interceptor missiles for Patriot air defense systems. They are planned to be purchased with funds from a 90 billion loan.
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