---
title: "EU Seeks Another €70 Billion for Ukraine: Brussels Lacks Fast Instruments"
description: "EU leaders instructed the European Commission to find an additional €70 billion for Ukraine for 2027 following Zelenskyy's appeal at the summit. A new joint borrowing is considered the main option, although the cost of debt has noticeably increased."
date: 2026-10-20T06:19:03.316Z
lang: en
url: https://xab.info/en/posts/eu-seeks-another-70-billion-for-ukraine
tags: [eu, ukraine, funding, defense, eu-loan, zelensky, eu-budget]
author: "Alexander Buran"
publisher: "XAB.info"
---

# EU Seeks Another €70 Billion for Ukraine: Brussels Lacks Fast Instruments

![Volodymyr Zelenskyy talks with António Costa and Ursula von der Leyen at the EU summit](https://xab.info/media/2026/10/20/es-ischet-eshche-70-mlrd-evro-dlya-ukrainy/es-ischet-eshche-70-mlrd-evro-dlya-ukrainy-1.webp)

## Key Points

- Zelenskyy asked Europe for another €70 billion for 2027 at the EU summit, estimating the cost of the war at €155 billion
- EU leaders instructed the European Commission to close the gap; a new joint borrowing on the markets is considered the main option
- EU debt costs have risen (10-year yield from 2.8% to 3.44%), and Hungary, Slovakia, and the Czech Republic are exempt from the previous loan

At the end of the two-day European Union summit, member state leaders heard from Ukrainian President Volodymyr Zelenskyy, who presented the scale of Kyiv's financial needs for the coming year. According to him, the war will cost Ukraine €155 billion in 2027, and to cover needs for defense, weapons, and resilience, the country needs 'at least another €70 billion' from European partners. 'This is a realistic amount. And I ask you to find this support. It will help us hold back Russia,' Zelenskyy stated. According to him, the additional funds will increase the production of domestic modern drones to stop Russia's advance on the frontline, disrupt its supply lines, and weaken its war machine.

### Why the Previous Loan Became Not Enough

Until now, Brussels relied on a €90 billion loan approved by leaders last December, which was supposed to cover two-thirds of Ukraine's financial and military needs for 2026 and 2027 combined, while the rest was to be provided by other allies. However, the European Commission had expected the war to end in 2026. Moscow intensified its offensive, including daytime strikes targeting Ukraine's already vulnerable economy, and the previously agreed funding volume ceased to cover real needs. EU leaders instructed the European Commission to find ways to close this gap, which, according to Brussels' assessment, turned out to be significantly larger than anticipated.

### Who Will Pay and How Much

Kyiv warned for weeks that next year it needs about $32.6 billion for the budget and $45 billion for the army, totaling $78 billion, or approximately €70 billion. Initially, Brussels did not comment on this figure, but after several rounds of technical talks, it agreed with the estimate. These €70 billion will be in addition to the €45 billion the EU plans to disburse under the current loan and several billion from other programs. Brussels emphasizes that these will be 'joint efforts' with other allies, including the UK, Norway, Canada, and Japan: 'We cannot do all of this alone. Our partners must step up, announce contributions, and fulfill their commitments,' a European Commission spokesperson said.

### More Expensive and Complex: New Debt on the Markets

According to diplomats and officials, the most likely option is to raise joint debt on financial markets again, as the EU is already doing for the €90 billion loan, by expanding the existing credit mechanism and effectively extending the current scheme. The Union has a stable AAA credit rating, and its bonds have enjoyed steady demand since the COVID-19 pandemic, often exceeding supply at auctions; former Italian Prime Minister and European Central Bank head Mario Draghi called for large-scale borrowing. However, since December, the financial situation has deteriorated sharply: global borrowing costs have risen due to more expensive oil, increased public debt, and high demand for money for artificial intelligence projects. The yield on 10-year EU bonds rose from 2.8% in January to 3.44% in September — a noticeable increase, although smaller than in many other markets. The European Commission stated that the rise in debt costs affected the entire world, and the EU's relative position has not worsened: 'We remain a very competitive issuer.'

### Uncertainty and Political Barriers

New debt is politically sensitive as it increases interest payments, while additional pressure is created by disputes over the next EU long-term budget and preparations for the French presidential election, where frontrunner Marine Le Pen has promised to end all aid to Ukraine. It remains unclear how much of the €70 billion the EU itself will provide, as the preliminary 'two-thirds to one-third' distribution did not work, and it is unknown how quickly Kyiv needs the money; it is only clear that there are few options to quickly raise such a sum. Hungary, Slovakia, and the Czech Republic have already been exempted from the €90 billion loan, and Slovak Prime Minister Robert Fico stated at the summit that together with Hungarian Prime Minister Péter Magyar, they agreed to maintain this policy, adding that other countries can provide the loan if they wish. Simultaneously, Ukrainian MPs and the government are publicly recording an acute shortage of funds in the state budget, which only increases the urgency of finding new financing.

## Fact-Check & Sources

- [ЕС не хватает денег для Украины, но есть два варианта, - Euronews](https://www.rbc.ua/ukr/news/es-vistachae-groshey-ukrayini-ale-e-dva-varianti-1792476793.html) - Primary source: Zelenskyy's request for €70 billion, €90 billion loan, $32.6+$45 billion estimate, joint borrowing mechanism, bond yield growth, exemption of Hungary/Slovakia/Czech Republic.
- ["Не хватает средств даже на два месяца": в Раде заявили о катастрофической ситуации с бюджетом](https://www.kp.ru/online/news/7175089/) - Context: statements by Rada deputies about an acute shortage of funds in Ukraine's state budget and the need for Western assistance.
- [В Верховной раде заявили, что Украине не хватает денег на выплаты зарплат военным](https://vm.ru/news/1358711-v-rade-zayavili-chto-ukraine-ne-hvataet-deneg-na-vyplaty-zarplat-voennym) - Context: words of V. Ivchenko and O. Vasylevska-Smahliuk about the lack of funds; IMF estimate of the 2027 financing deficit at 17.8% of GDP.
- [Денег нет даже на армию: куда делся бюджет Украины и чем закрывать дыру](https://focus.ua/eksklyuzivy/768252-deficit-byudzheta-ukrainy-2026-pochemu-ne-hvataet-deneg-i-chto-budut-sokrashchat-fokus) - Context: narrowing room for maneuver in the Ukrainian budget, postponed expenditures.

## FAQ

### How much money is Ukraine asking the EU for 2027?

Zelenskyy stated that the war will cost €155 billion next year and asked European partners for another €70 billion for defense, weapons, and resilience. This is in addition to €45 billion under the current loan and several billion from other programs.

### Where does the EU plan to get these €70 billion?

According to diplomats and officials, the most likely option is to raise joint debt on financial markets again by expanding the existing credit mechanism. At the same time, Brussels emphasizes that this will be a 'joint effort' with other allies, including the UK, Norway, Canada, and Japan.

### Why did the previous €90 billion loan become insufficient?

The European Commission expected the war to end in 2026, but Moscow intensified its offensive, including daytime strikes, and the agreed volume ceased to cover needs. Kyiv estimated additional needs at $32.6 billion for the budget and $45 billion for the army, which Brussels accepted after technical talks.