EU Presses G7 Allies to Help Close Ukraine's €70 Billion Funding Gap for 2027

The European Union is urging its Group of Seven partners to provide money to Ukraine in 2027 to cover a budget shortfall of €70 billion, as support from countries outside the bloc shrinks, according to a report by the Financial Times.

The European Commission has confirmed Kyiv's own estimate of the gap. The figure includes military spending once the remaining weapons supplied under the Biden administration have been delivered. US President Donald Trump has for now stopped all direct funding for Ukraine.

A Commission forecast seen by the FT shows that Kyiv's allies outside the EU have so far pledged only €4 billion for next year, compared with €19 billion in 2026. The analysis indicates that the US, UK, Canada and Japan together are set to contribute just €1 billion.

In response, the EU has started contingency planning to keep Ukraine's finances steady in 2027 should NATO and G7 partners fail to increase their contributions. Commission officials are weighing several options, among them joint debt issuance. The idea is expected to be raised at a summit in late November.

Brussels is also holding active bilateral talks with London, Ottawa and other capitals. European officials are waiting for the UK and Canadian budgets for 2027 to be published, hoping they will contain fresh commitments to Ukraine.

At the same time, the EU has made clear it will not cover the gap by itself. A Commission spokesperson said the EU and its member states account for 80% of the aid promised to Ukraine for 2027. "Europe cannot meet Ukraine's financing needs alone," the spokesperson said. "International partners must also step up, including NATO allies."

The stance of partners outside the EU remains unclear. A spokesperson for Canada's finance ministry noted that Ottawa has committed a total of CA$27 billion to Ukraine since Russia launched its full-scale invasion in 2022, but declined to say what the budget might hold: "I won't speculate on what may or may not be included in next week's budget."

Japan's Foreign Ministry disputed the Commission's conclusions, saying the government "cannot make any definitive statements regarding the possibility of future financial support to Ukraine". It added: "However, Japan is considering options to address Ukraine's financing needs based on future developments . . including discussions among G7 members."

The budget gap is not the only area where allies are lagging. The Commission estimates that NATO's 32 member states are €13 billion short of fulfilling their pledge to give Ukraine €70 billion in defence support this year.