Kyiv asks, and the EU responds: ready to work on the additional financial needs

Brussels – The 27 leaders of the European Union member states are receptive to the request for further financial aid put forward by the Ukrainian President Volodymyr Zelensky. This was confirmed by the President of the European Council, António Costa, at a press conference following the EU Summit. “We have asked the Commission to put forward a proposal to address Ukraine’s additional financial needs for 2027,” he emphasised. “Europe is doing a great deal, but the reality is simple: as long as this war continues, Ukraine’s financial needs will continue to grow. At present, the European Union and its Member States account for 80 per cent of external aid to Ukraine, and we will continue to play a leading role. But it is urgent that other partners also play their part,” emphasises the President of the European Commission, Ursula von der Leyen. “Our support matters more than ever, as Russia tests Ukraine’s resilience and jeopardises its economy,” she continues. 

In his address to world leaders this morning (16 October), Zelensky explained that the war will cost €155 billion next year and that the request to Brussels is for a further 70 billion. “Next year, the war will cost €155 billion. And we need at least a further 70 billion euros from you: for defence, for armaments, and for our resilience”, said the Ukrainian president in his address to the leaders. In his view, this is “a realistic figure” that “will help us contain Russia,” Zelensky noted. 

At the late-afternoon press conference, Costa emphasised that “Russia wants an escalation.” For this reason, “our commitment to peace must go hand in hand with an increase in the pressure we exert on the aggressor – not less pressure” on Moscow and its war machine. “Ukraine remains a key priority for Europe, and it was very positive to have President Zelenskyy with us as well,” the former Portuguese Prime Minister assured. “Our determination to stand by Ukraine and its citizens remains stronger than ever. At the same time, every genuine step towards peace counts, and we support every genuine effort aimed at peace. Unfortunately, however, Russia’s actions are moving in the opposite direction,” he emphasises.

Brussels is defending Kyiv in order to protect itself as well. “Supporting Ukraine is more important than ever, especially as Moscow is stepping up its hybrid campaigns across the European Union. We are seeing acts of sabotage, with repeated violations of Member States’ airspace and territorial waters, and these actions will certainly be met with a response,” notes Costa. “And we will also step up our work on defining our defence strategy, to be adopted by 2030,” he concludes.