EU Says €90 Billion Ukraine Loan Is Enough

The future of the European Union's €90 billion support loan for Ukraine is in serious doubt. As Russia intensifies its attacks and drives up the cost of materials, many are questioning whether the money will last as long as planned.

Brussels, however, says the financial plan is still sufficient "for the moment".

The loan was agreed upon by EU leaders to cover Ukraine's financing needs for 2026 and 2027. The plan is to give €45 billion this year and another €45 billion next year. So far, €3.2 billion has been paid for budget support and €8.35 billion for military aid.

Of the total loan, €60 billion is meant to strengthen Ukraine's defence industry and buy military equipment. The other €30 billion is for budget support. The loan is interest-free, and Ukraine would only need to repay it if Russia pays war reparations after the conflict ends. The idea is that frozen Russian assets worth around €210 billion could be used for this.

But Russia's recent actions are making the situation harder. Moscow has launched waves of drone and missile attacks, especially targeting critical infrastructure. This is driving up material costs and increasing Ukraine's financial needs.

Ukrainian President Volodymyr Zelenskyy has already asked allies to fill a €23 billion gap in the defence ministry budget. He has suggested that the EU give some of next year's €45 billion earlier than planned.

Some EU countries support this idea. After a meeting of defence ministers in Ireland, the Irish Foreign Minister said there was "consensus across the room" to bring funding forward.

But the European Commission, the EU's executive body, is not ready to change the plan yet. "We are focused now on what is already a very ambitious disbursement plan, and for the moment that's where our focus lies," said Paula Pinho, the Commission's chief spokesperson.

At the same time, four countries—Sweden, the Netherlands, Spain, and Poland—have revived the idea of using frozen Russian assets to provide extra support, warning that the €90 billion loan "will not be enough".

For now, Brussels is sticking to the original plan. But with the war escalating and costs rising, the question remains: will €90 billion be enough to carry Ukraine through to the end of 2027?