Ukraine needs 70b euros in 2026, EU says as funding debate rages

BRUSSELS, Nov 17: Ukraine needs more than 70 billion euro ($81 billion) in extra financial assistance to defend itself and keep the government running in 2026 as Russia's war drags on, the EU said Monday.

The European Commission spelt out Kyiv's needs in a paper circulated to member states as the 27-nation bloc debates whether to use frozen Russian assets to fund a new loan to plug Ukraine's looming budget black holes.

"The scale of Ukraine's financing gap is significant," commission chief Ursula von der Leyen wrote in a letter accompanying the paper seen by AFP, before outlining financing options and urging states to "rapidly" choose a way forward.

Citing International Monetary Fund projections based on Russia's war ending by the end of next year, Brussels said Kyiv's assistance needs would reach over 70 billion euros in 2026 and 64 billion in 2027.    �"AFP