The EU discusses further aid for Ukraine: ‘Supporting Kyiv for European security’
One of the options being considered by the EU-27 is the use of Moscow’s frozen assets
BRUSSELS – The recent and dangerous military escalation between Russia and Ukraine has financial implications as well as operational ones. As early as last week, Kyiv had strongly called for further aid from its Western partners. Within the EU, pressure is mounting to ensure new and rapid funding for Ukraine, at a particularly delicate stage of the conflict: on Tuesday 1 September the German government accused Moscow of seeking to influence the regional elections scheduled for the coming days.
The High Representative for Foreign Affairs Kaja Kallas has urged member states to continue their support for Ukraine. “Air defence remains our top priority,” she warned following an informal meeting of defence ministers in Ireland. “Any form of support we offer to Ukraine strengthens European security.” On this occasion, the former Estonian Prime Minister announced the establishment of “a high-level working group” to clearly identify how to “address the gaps in European defence”.
On the financial front, we are aware of the facts of the matter. The Twenty-seven have guaranteed Kyiv new loans totalling 90 billion euros for the period 2026–2027. So far, 8.5 billion euros have been disbursed. Fears are growing that the funds earmarked may, after all, not be sufficient. Recently, four countries – Spain, Poland, Sweden and the Netherlands – sent a letter to their partners, once again suggesting the possibility of using Russian assets that were frozen at the outbreak of the war.
The idea – which has always been controversial and has been brought back to the table by a group of countries with potentially divergent motives – seems premature to many diplomats, although they do not rule out the possibility that it might emerge in the final stages of the current negotiations on the 2028–2034 European budget. At a press briefing in Brussels, the European Commission spokesperson Paula Pinho sought to reassure the public: “For now, whilst recognising the gravity of the situation on the ground, we are focused on implementing our ambitious plan” to provide aid to Ukraine.
More generally, European concerns regarding funding for Kyiv also stem from the fact that partner countries – from the UK to Canada – are dragging their feet when it comes to contributing their share and bringing the projected total aid for 2026–2027 to around €130 billion. Speaking from North Carolina, where a G20 meeting was taking place, the Commissioner for Economic Affairs Valdis Dombrovskis said: “I urge (…) our international partners to play their part by increasing their contributions and ensuring the necessary financial coverage for the commitments made.”
