Brussels Presses G7 to Cover Ukraine’s €70 Billion 2027 Deficit
With non-EU aid plummeting from €19 billion to €4 billion, European officials are exploring joint debt issuance to fill the gap.
By Sarah Reynolds ·
European Commission officials are urging Group of Seven partners to close a €70 billion funding hole for Ukraine in 2027. The shortfall arises as direct financial support from non-EU nations declines sharply.
A forecast reviewed by The Financial Times shows that Kyiv’s allies outside the EU have pledged only €4 billion for next year. That figure represents a steep drop from the €19 billion committed for 2026. The US, UK, Canada, and Japan together account for just €1 billion of that total.
The estimate includes military expenditures after the final weapons deliveries from the Biden administration are complete. US President Donald Trump has halted all direct funding for Ukraine, leaving European nations to shoulder most of the burden.
European Commission spokespersons state that the EU and its member states already represent 80% of the promised aid for 2027. Officials argue that Europe cannot meet Ukraine’s financing needs alone and require international partners to step up.
Brussels has begun contingency planning to maintain Ukraine’s financial stability if NATO and G7 partners do not increase their support. European officials are evaluating several options, including jointly issuing debt. These measures are expected to be discussed at a summit in late November.
Bilateral negotiations are underway between Brussels and capitals in London and Ottawa. European officials are awaiting the publication of UK and Canadian budgets for 2027, hoping for new financial commitments. A spokesperson for the Canadian finance ministry said Ottawa has committed CA$27 billion in aid since 2022 but declined to speculate on next week’s budget.
Japan’s Foreign Ministry disputed the Commission’s conclusions, stating the government cannot make definitive statements on future support. A Japanese spokesperson noted that Tokyo is considering options based on future developments, including discussions among G7 members. Meanwhile, NATO’s 32 member states are €13 billion short of their pledge for €70 billion in defense support this year.
Source: Ukrainska Pravda
