EU agrees to release €6.6 billion linked to Ukraine military aid
- On Friday, European Union member countries agreed to release €6.6 billion in military aid for Ukraine from the European Peace Facility, High Representative Kaja Kallas announced.
- The funds had been stalled since spring 2023 by Hungary's previous government under Prime Minister Viktor Orban. That deadlock broke this year after Prime Minister Peter Magyar took power.
- Kallas detailed that €4.7 billion will reimburse member states, €1 billion will fund joint procurement, and €900 million will support the EU's military training mission. Some states may send reimbursements directly to Kyiv.
- Ukrainian President Volodymyr Zelenskyy warned that his country faces a $27 billion Ministry of Defence shortfall. He emphasized that funding for weapons is critical to survive constant strikes.
- Kallas stated, "That's good news for Ukraine and bad news for Russia." She added that Europe is countering Moscow's attempts to intimidate the bloc into reducing support.
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179 Articles
Ukraine is entering the winter with increasing financial pressure, while Russia is intensifying attacks with drones and missiles on critical infrastructure. Kiev warns that the lack of money could affect the country's ability to continue the war and to pay the military, pensions and salaries of budgetaries.
Europe Has Found the Money to Keep Ukraine Fighting Through the End of the Year, but There Is a Catch Attached to the Funds
The European Union and Ukraine say they have secured the funding needed to keep Kyiv fighting through the end of the year, days after Ukraine warned of a massive defense funding gap. But the money comes with reform conditions, and most of the outside funding Ukraine needs for next year is still unsecured.
The European Union has so far rejected Ukraine's request to accelerate the disbursement of loans to cover an unexpected shortfall in military funding this year, citing Brussels' reform conditions and concerns about the 2027 deadline, Bloomberg reported.
The EUROPEAN Commission has confirmed that Ukraine's financial and military needs for 2026 are fully covered, thus solving the problem of the 24 billion euro shortfall reported by Kyiv.
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