"Ukraine's budget and military needs for 2026 and 2027 are estimated to total around 130 billion euros ($150 billion). The European Union has committed to fill the gap. It has already poured in over 170 billion euros ($197 billion) since the war started in 2022. The biggest pot of ready funds available is through frozen Russian assets. Most of the money is held in Belgium around 194 billion euros as of June and outside the EU in Japan, with around $50 billion,"
"The European Commission, the EU's executive branch, was due to make public later on Wednesday details of its proposal to use the Russian money as collateral to help meet Ukraine's considerable needs through a "reparations loan." But Belgian Foreign Minister Maxime Prevot said that his country considers "the option of the reparations loan the worst of all, as it is risky. It has never been done before.""
Ukraine's budget and military needs for 2026 and 2027 total around 130 billion euros. The European Union has committed to cover the deficit and has provided over 170 billion euros since 2022. The largest available funding source consists of frozen Russian assets, with approximately 194 billion euros held in Belgium and about $50 billion in Japan. The European Commission proposed using those assets as collateral for a reparations loan to finance Ukraine. Belgium rejected the reparations-loan option as risky, untested and legally problematic, and urged the EU to borrow on international markets to avoid potential lawsuits and reputational harm.
Read at www.npr.org
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