The European Commission plans to reach an agreement by the end of the year to address Ukraine's 70 billion euro financial shortfall by 2027.
Modern.az reports, citing "Politico" and European Commission documents.
It was stated that despite the European Union previously allocating 90 billion euros in credit to Ukraine for 2026-2027, Kyiv now needs an additional 70 billion euros.
Of these funds, 40 billion euros are intended for military expenses, and 30 billion euros for financing the state budget deficit.
Brussels is seeking additional financial support from Canada, Japan, the United Kingdom, and the United States to cover the missing funds.
At the same time, the issue of directing frozen Russian assets to finance Ukraine is likely to remain outside the discussions. The main reason for this is Belgium's objection to this initiative, where a large portion of these assets are located.
The European Commission is expected to prepare possible financing mechanisms before the summit in November.
