EU says Ukraine needs €135 billion in 2026-27, including €83 billion for defence sector

Ukraine will need at least €135.7 billion in Western support for 2026-27, of which €83.4 billion is for defence needs.

Over the next two years, Ukraine is counting on at least €135.7 billion in Western assistance to cover budgetary and defence needs.

"According to preliminary projections of the IMF that assume an end of the war by end-2026 and taking into account projections of the Ukrainian authorities regarding military support, the total estimated remaining needs for the period 2026-2027 amount to EUR 135.7 billion," a European Commission options paper for financial support for Ukraine signed by Commission President Ursula von der Leyen explains.

The European Commission provides a table stating that in 2026 Ukraine will receive €20.1 billion in macro-financial needs and €51.6 billion in military needs that have to be covered by foreign assistance.

Overall, in 2026 Ukraine will require at least €71.7 billion in Western support.

In 2027, the figure is €64 billion, comprising €32.2 billion in macro-financial needs and €31.8 billion for defence.

This reflects the ongoing intensity of the war, the declining military in-kind support, the need to sustain core state functions, and the continuous build-up of critical defence and industrial capacity."

It is also stated that the substantial residual financing gap reflects the fact that "existing financing commitments from international partners, such as the ERA loans, will largely have been exhausted by that stage".

It was reported earlier that the European Commission proposed three options for providing financial assistance to Ukraine over the next two years.

In developing the options for financing Ukraine in 2026-27, the European Commission has worked on the assumption that the war in Ukraine will end in late 2026.

The EU stated that the issue of using frozen Russian assets to support Ukraine remains on the agenda, and a final decision will be made in December 2025.

The European Commission has also said that the United Kingdom and Canada can offer their own "reparations loans" to Ukraine.