EC head: EU Council won't complete its work until it decides on funding for Ukraine

The current European Council meeting is taking place at a crucial moment, and it has one ultimate goal: peace for Ukraine, which requires guaranteed financing for the next two years (2026-2027), European Commission President Ursula von der Leyen said before the start of the two-day EU Council meeting, Report informs.

She reiterated two proposed options: financing through co-borrowing and a reparations loan.

"This is why I proposed two different options for this upcoming European Council, one based on assets and one based on EU borrowing. And we will have to decide which way we want to take. But one thing is very clear, we have to take the decision to fund Ukraine for the next two years this European Council," she said.

She said she agreed with the President of the EU Council, who stated that the meeting would not end without a decision on funding for Ukraine for the next two years.

"The IMF and our estimates show that Ukraine's needs for the years 2026 and 2027 are around about EUR 137 billion. Europe should cover two-thirds, that is EUR 90 billion," she added.