Key facts
- The EU will request G7 nations fund the remaining one-third of Ukraine's budget needs for the next two years.
- The EU has committed a 90 billion euro ($105 billion) loan to cover two-thirds of Ukraine's financial and defense needs until 2027.
- This leaves a $52 billion budget gap for Ukraine.
- G7 leaders are expected to acknowledge Ukraine's budgetary shortfall in a joint statement.
- Discussions will also cover support for Ukraine's energy infrastructure and air defense.
The European Union plans to ask G7 countries to finance the remaining one-third of Ukraine's budget needs for the next two years, amounting to approximately $52 billion. This request follows the EU's agreement on a 90 billion euro ($105 billion) loan intended to cover two-thirds of Ukraine's financial and defense requirements until the end of 2027.
European Commission President Ursula von der Leyen is set to press G7 leaders on this issue during discussions that will include Ukrainian President Volodymyr Zelensky. While G7 leaders are expected to acknowledge Ukraine's budgetary shortfall in a joint statement, specific financial commitments from individual G7 nations remain uncertain, with Canada's ambassador offering a non-committal response when asked about potential funding. Discussions are also anticipated to cover support for Ukraine's energy infrastructure and air defense systems.