EU urges Britain and Canada to help close Ukraine’s €70bn budget gap

The European Union plans to persuade Britain and Canada to step up their assistance to close Ukraine’s projected 70 billion euro funding deficit in 2027.

Brussels aims to raise the issue during summits with Canada on 29-30 October and with Britain on 20 November, according to a Politico report citing European officials and diplomats.

Ukrainian President Volodymyr Zelenskyy, speaking at a summit in Brussels earlier this month, said the country’s military expenditure would reach 155 billion euros in 2027, requesting an additional 70 billion euros from European leaders.

The administration in Brussels wants to bring other allies into play, noting that a previously approved 90 billion euro loan is insufficient to meet all the costs.

European Commission President Ursula von der Leyen recalled that the EU and its member states have shouldered 80% of external aid provided to Ukraine, saying: “We urgently need our other partners to step up their efforts.”

According to bloc data, the EU and member states have transferred more than 231 billion euros in resources to Ukraine so far.

Brussels will not tie aid plea to trade conditions

European officials emphasise that the call to increase aid does not constitute a criticism directed at Britain or Canada.

Speaking to the publication, a European diplomat said Brussels would not directly link support for Ukraine to conditions on trade or defence cooperation, adding: “The EU is not going to pull a Trump and openly make its goodwill toward partners contingent on what they give to Ukraine.”

The EU had previously taken part in a commitment to provide 90 billion euros in loans to meet roughly two thirds of Ukraine’s requirements in the 2026-2027 period.

The Brussels administration also expected to raise 45 billion euros from partners such as Canada, Japan, South Korea, Australia, and Norway, though a portion of these funds has not yet been allocated.

The government in London states that it has committed 25 billion pounds to Ukraine, while Canada has pledged military aid valued at 5.4 billion euros alongside 8.2 billion euros in direct financial support.

Emphasising that her country is an unwavering supporter of Ukraine, Privy Council of Canada spokesperson Catherine Séguin stated that they have committed roughly 26 billion Canadian dollars for military, financial, humanitarian, and development assistance.

Brussels is also urging Japan to increase its aid volume.

A source familiar with Tokyo’s position stated that Japan has provided around 20 billion dollars to Kyiv and could allocate additional funds in line with Ukraine’s request.

National Bank of Ukraine Governor Andriy Pyshnyy announced in a statement during the summer that about 200 billion dollars in direct budget financing had been provided by the West since the start of the conflict.

At the end of June, the Ministry of Finance of Ukraine calculated the country’s external financing requirements for the 2026-2029 period at 145.9 billion dollars.

Finance Minister Serhiy Marchenko stated that, despite the assistance coming from the West, the country’s financing needs continue to remain elevated.