Looking ahead to 2027, the European Union (EU) has already confirmed that it will seek to disburse the €45 billion loan in the first few months of the year, of which €31.7 billion will go to the defense industry and €13.3 billion to support Ukraine's budget.

European Economy Commissioner Valdis Dombrovskis said on Monday that the European Union (EU) plans to provide an additional €45 billion in aid to Ukraine in 2027 to cover two-thirds of the funding gap identified by Kyiv for that year, which currently stands at €70 billion, according to current estimates.

The European Commission is working on options to finance that amount and will present them to the member states “soon,” the commissioner told reporters on arrival at the meeting of EU economy and finance ministers, where support for Ukraine will be discussed, among other topics.

“I am cautiously optimistic that we will manage to find a solution and provide this additional €45 billion in funding on top of what is already planned,” Dombrovskis said.

This additional amount would come on top of another €45 billion the EU has already approved for 2027, as part of the €90 billion loan to Ukraine for this year and next, which the bloc agreed to in 2025.

Ukrainian President Volodymyr Zelenskyy told EU leaders at their October summit that his country would need an additional €70 billion to meet its defense and budgetary needs for next year, and the 27 member states asked the European Commission to look for options to cover that amount.

Brussels is now examining the possibilities. One “central” option, according to Dombrovskis, would be to repeat the model used for the €90 billion loan, which is financed through a joint debt issuance backed by the EU budget.

Kyiv will not have to repay the loan it receives with this money until Russia pays war reparations. If Moscow does not pay, the EU reserves the right to use Russian assets frozen by its sanctions within the bloc to cover the cost.

In this regard, the European commissioner said that the option of using those Russian assets remains on the table.

In 2025, the EU ultimately agreed to finance the loan to Ukraine through a common debt issuance, precisely because no agreement could be reached on using the proceeds generated by those frozen assets at the institutions where they are held in the bloc. The main opponent, though not the only one, was Belgium, where the vast majority of those assets are located.

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