EU’s €90 billion ‘may not be enough’ for Ukraine – WSJ

The EU will have to provide more money to Ukraine next year on top of the newly approved €90 billion ($105 billion), the Wall Street Journal has reported, citing diplomatic sources.

On Thursday, Brussels announced that the interest-free loan to Kiev has been finalized and that it will begin disbursements “as soon as possible” in the second quarter of 2026. European Commission President Ursula von der Leyen hailed the development as “a good day for Ukraine and Europe.”

The approval came less than two weeks after the party of longtime Prime Minister Viktor Orban, who has been vetoing the transfer of funds for months due to an energy dispute with Ukraine, suffered a defeat in the parliamentary election.

The WSJ reported in an article on Friday that the EU’s hopes that the money transfer will allow it to sustain Ukraine during the conflict with Russia until 2028 were likely in vain.

Diplomats who spoke to the outlet warned that the money allocated by Brussels “may not be enough.”

Kiev’s funding gap for 2027 has grown even further since the package was initially planned in December, they said.

Ukraine requires an extra €19 billion to cover its budget next year, meaning that the EU could be forced to seek a new multi-billion loan in 12 months, the diplomats stressed.

European Council head Antonio Costa said that Ukraine would only need to pay back the money after it receives reparations from Russia following the conclusion of conflict. Moscow has repeatedly rejected such a scenario, saying that it’s “detached from reality.”

Russian MP, Dmitry Belik, who sits on the State Duma’s International Affairs Committee, told RIA Novosti that Costa understands perfectly well that Brussels is never getting its money back.

“The European Council head is talking about reparations from Russia only to save face. His words are just a sham. In reality, the €90 billion loan to Kiev is a gift, in the hopes of prolonging the military conflict for another year,” he said.