Ukraine urges EU to tap frozen Russian assets amid $78 billion 2027 funding gap

September 30, 2026 at 08:18 AM1 min

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Ukraine's finance minister called on the EU to use frozen Russian assets to cover a $78 billion funding gap in 2027. Serhiy Marchenko made the appeal at a Ukraine Donor Platform meeting in Brussels on September 29. The request comes as confirmed financing covers only about $20 billion of the $52.6 billion external need.

Key Facts

Ukraine's external financing need for 2027 is $52.6 billion, of which about $20 billion has expected sources and $32.6 billion remains unsecured.
Adding about $45 billion in defense needs brings the total funding gap to approximately $78 billion.
About €210 billion of Russian central bank assets are immobilized in the EU, with €202 billion held at Euroclear Bank as of end-June 2026.
Finance Minister Serhiy Marchenko made the appeal on September 29 at an informal Ukraine Donor Platform meeting in Brussels.

Funding Gap

Ukraine faces a potential financial gap of $78 billion in 2027, according to its finance ministry. The external financing need is $52.6 billion, with about $20 billion already covered by expected sources. An additional $45 billion is required for defense, leaving a total shortfall of roughly $78 billion.

Frozen Assets Appeal

Marchenko urged European partners to consider frozen Russian assets as a source to cover these expenses. He said such a mechanism could finance exceptional military costs, support debt sustainability, and link funds to Russia's accountability for war damage. The EU has immobilized about €210 billion of Russian central bank assets, with €202 billion at Euroclear Bank as of end-June 2026. The EU already uses income from frozen assets to support Ukraine, but using the principal remains legally complex.