European Commission: $79 billion must be secured to cover Ukraine's needs

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European Commission President Ursula von der Leyen called on Friday to cover the financing deficit facing Ukraine, amounting to $79 billion (70 billion euros) during the year 2027, stressing that the European Union will continue to play a “leading role” in supporting Kiev financially, but it also needs the urgent contribution of other partners.

“This deficit must be covered,” von der Leyen said at the conclusion of the European Union summit in Brussels, stressing the need for the bloc’s partners to bear a greater part of the responsibility in supporting Ukraine.

Her statements came after Ukrainian President Volodymyr Zelensky asked European leaders to provide about an additional 79 billion dollars (70 billion euros) next year to continue financing the war effort against Russia, describing the amount as “realistic” and necessary to help his country repel Russian attacks.

European Union leaders assigned the European Commission to prepare a proposal on mechanisms for financing the required amount, while French President Emmanuel Macron said that Kiev's supporters will study the request, adding that Europe is working to strengthen Ukrainian defense capabilities through satellite images and early warning systems.

For his part, German Chancellor Friedrich Merz confirmed that the European Union will discuss the request before the end of the year, pointing to the need to provide additional resources to support Ukraine.

The discussions revived controversy over using about $248 billion (200 billion euros) of the Russian Central Bank's frozen assets to help finance Kiev. Latvian Prime Minister Andris Kohlbergs called for these funds to be used to support Ukraine, while Belgium still opposes the move given the presence of the bulk of these assets on its territory.

European Council President Antonio Costa stressed that the time is not appropriate to reduce support for Ukraine or ease sanctions on Russia, but rather to increase European support and pressure on Moscow.

These positions come at a time when relations between Kiev and Washington are witnessing increasing tension against the backdrop of disagreements between Zelensky and US President Donald Trump regarding the war and sanctions imposed on Russia, which has raised European concerns about continued American support for Ukraine.