EU seeks G7 support to fill Ukraine's 2027 funding hole
Brussels urges partners to cover a €70 billion shortfall as external aid pledges drop sharply.
By Rosa Fuentes ·
The European Commission is formally asking Group of Seven nations to help close a €70 billion gap in Ukraine's 2027 budget. This request comes as financial support from countries outside the European Union declines rapidly. A report from the Financial Times details the pressure on Brussels to secure new commitments before the next fiscal year begins.
The €70 billion figure matches Kyiv's own estimate of its financial needs. It includes military costs associated with weapons promised under the previous US administration. US President Donald Trump has suspended direct funding for Ukraine, leaving other partners to bridge the difference.
A Commission forecast reveals that allies outside the EU have pledged only €4 billion for 2027. That sum is a steep drop from the €19 billion promised for 2026. The United States, the United Kingdom, Canada, and Japan are expected to contribute just €1 billion in total for the coming year.
Brussels is now preparing contingency plans to stabilize Ukraine's finances if NATO and G7 partners do not increase their contributions. Officials are considering joint debt issuance as one possible solution. This option is expected to be discussed at a summit scheduled for late November.
European leaders are also conducting bilateral talks with London and Ottawa. They are waiting for the UK and Canadian governments to publish their 2027 budgets in hopes of finding new commitments for Ukraine. A Commission spokesperson emphasized that the EU and its member states currently account for 80% of the aid promised for 2027.
"Europe cannot meet Ukraine's financing needs alone," the spokesperson said. "International partners must also step up, including NATO allies." Canada's finance ministry spokesperson noted that Ottawa has committed CA$27 billion to Ukraine since 2022 but declined to speculate on next week's budget. Japan's Foreign Ministry said it is considering options for future support but could not make definitive statements.
The funding gap extends beyond the general budget. The Commission estimates that NATO's 32 member states are €13 billion short of their pledge to provide €70 billion in defense support to Ukraine this year.
