EU announces shortage of funds to finance Ukraine

Financial support for Ukraine is in question

The head of European diplomacy, Kaja Kallas, said that the European Union does not have sufficient funds to finance Ukraine in 2026. According to her, many EU countries believe that frozen Russian assets could save the situation.

Problem with funding

"We are experiencing a huge shortage of funds to finance Ukraine. However, Belgium and a number of other EU countries do not want to discuss the immediate confiscation of [Russian] assets," Kallas said at a press conference following an informal meeting of EU foreign ministers.

Disagreements over Russian assets

According to Kallas, there is no unanimous decision on the seizure of Russian assets in the European Union. In particular, Belgium, where the bulk of Russia's assets - 210 billion euros - are frozen, is not taking any action on them, as it fears a retaliatory move by Moscow and lawsuits from it.

Finding a solution

Kallas also noted that many EU countries would "share the risks" with Belgium, but that this did not help convince the country to take action. The Telegraph previously reported on problems with finding the necessary number of troops to send to Ukraine as EU peacekeepers. For the bloc's countries, 30,000 people turned out to be an unaffordable figure.

Prospects

Currently, the European Union continues to search for a solution to finance Ukraine and use frozen Russian assets. However, as experts note, this process may be complex and lengthy.

It remains to be hoped that in the future the EU will be able to find the necessary funds to support Ukraine and that the bloc's countries will be able to come to a common decision regarding the use of Russian assets.