AdvertiseDonate
LatestRevere resident: 97-year-old Maria O’Callaghan dies after six decades of marriage
Digital Newz Live · 126 Brookline Avenue, 2nd Floor, Boston, MA 02215

EU Seeks 70 Billion Euro Cover From UK

Brussels leaders will ask Prime Minister Andy Burnham to close a massive funding hole for Ukraine as he prepares for his first budget.

By Carolina Wood ·

Illustration for: EU Seeks 70 Billion Euro Cover From UK
Illustration generated for this article, not a news photograph.

Ukraine faces a 70 billion euro shortfall in 2027, a gap that European leaders intend to address by demanding more from Britain. This amount equates to 58 billion pounds and covers both defense and civilian needs for the war-torn nation.

European Commission President Ursula von der Leyen will make the case when she meets Prime Minister Andy Burnham in Brussels on 20 November. She will argue that the European Union and its member states are currently paying 80 percent of Ukraine's financial needs. Von der Leyen stated that the EU considers a fair share to be two-thirds, leaving the remaining third for other allies.

The timing creates pressure on the British government. Chancellor John Healey is preparing his first budget next week. He must weigh calls for increased spending against rising borrowing costs and a weakening economic outlook. Healey told reporters earlier this month that he is working on different ways to step up support for Ukraine, including military, diplomatic, and economic measures.

Brussels views the UK as the primary target for additional aid. It is the fourth largest donor to Ukraine, behind the United States, Germany, and France. The UK has committed 25 billion pounds to the country, with 16 billion pounds going to military aid. However, when adjusted for GDP, the UK contributes 0.86 percent of national income. This is lower than France's 1.1 percent and Germany's 1.5 percent, and far behind Denmark at 4.2 percent.

Von der Leyen also plans to ask Canadian Prime Minister Mark Carney for help at a summit in Montreal next week. European officials are casting a wider net and may approach Switzerland, South Korea, Australia, and New Zealand for additional funding. The EU last year agreed to a 90 billion euro loan for Ukraine, but costs are rising as Russia escalates attacks into the war's fifth winter.

The November summit in Brussels will also finalize three key trade agreements. These include a food and animal health deal to reduce paperwork, a linkage of emissions trading schemes to protect British industry from carbon taxes, and a youth mobility scheme for people aged 18 to 30. The commission proposed deferring a dispute over university tuition fees to technical talks within six months. A senior EU diplomat noted that the three agreements form a package, but leverage remains because the UK needs the deals to proceed.

Ukraine's costs continue to spiral as the conflict drags on. The EU aims to lead the effort while urging partners to do more. Von der Leyen told reporters last week that the EU will continue to lead but urgently needs other partners to step up.

More Politics · World news · Report a business · Got a Story?

Get Digital Newz Live in your inboxHeadlines from coast to coast. Free, a few times a week, unsubscribe any time.

Related stories

Get Digital Newz Live in your inboxHeadlines from coast to coast. Free, a few times a week, unsubscribe any time.