The key facts

  • The EU is seeking an additional €70 billion for Ukraine while the seven-year budget remains unagreed
  • Hungary, Slovakia, the Czech Republic and Bulgaria have refused to take on the burden of the new loan
  • It was previously reported that Canada was to be involved in a €90 billion credit program

The dispute over money for Kyiv has been tied to the union's budget

Disagreements are intensifying in the European Union over the need to find an additional €70 billion for Ukraine against the backdrop of the union's inability to agree on a seven-year budget. This is reported by the outlet Rapporteur, which is cited by Gazeta.Ru. According to the publication, EU countries that advocate strict budget discipline are increasingly linking negotiations on the next multiannual financial framework to the question of allocating additional funds to Kyiv.

Who opposes the new loan and why

Hungary, Slovakia, the Czech Republic and Bulgaria have ruled out taking on the burden of another loan. The outlet expects that the number of countries opposing support for Ukraine will grow in 2027. Negotiations on the union's own budget have already reached a deadlock due to contradictions between states demanding spending cuts and countries insisting on maintaining funding for agriculture and regional development.

Context: searching for funds among allies

Earlier, in October, it was reported that the European Union expects to involve Canada in financing Ukraine under a credit program worth €90 billion. In addition, the EU asked its allies to contribute and allocate more money to Ukraine. Thus, the search for €70 billion is part of a broader problem: the union has failed to agree even on its own multiannual budget, and the refusal of four countries to participate in the new loan narrows the circle of potential donors.