Ukraine risks running out of money for the war as early as June – Bloomberg
27 March 13:11
Ukraine risks finding itself in a critical financial situation and running out of funds for defense as early as June 2026. The main reason is delays and the blocking of aid from key Western partners.
This was reported by "Komersant Ukrainian" citing Bloomberg.
Funds will last until June
According to estimates by Ukrainian and foreign officials who spoke anonymously, Kyiv can currently cover expenses only until June.
The U.S. has virtually halted direct aid to Ukraine since Trump returned to power in January of last year. Therefore, Europe has shouldered the main burden—providing both weapons and financial support.
What threatens funding
Several factors are simultaneously undermining funding:
- Hungary has blocked a €90 billion EU loan
- Another IMF tranche is at risk due to unapproved tax changes in parliament
- NATO allies are in no hurry to finance the PURL program for the purchase of American weapons
“If international funding does not come through, the institution may have to resume direct lending to the Ministry of Finance to pay salaries to military personnel and employees,” said NBU Governor Andriy Pyshnyy in an interview with Bloomberg.
This would mean that the National Bank would simply print money—which would accelerate inflation.
How much funding is needed
- $52 billion — total foreign aid requirement for 2026
- $15 billion — just for the purchase of American weapons
- $8.1 billion — the current IMF program, the first tranche of which amounted to $1.5 billion
European Commission President Ursula von der Leyen assured that the EU would fulfill its loan commitments “one way or another.”
Ukrainian Finance Minister Serhiy Marchenko wrote on Facebook that he expects funds from the EU “in the near future.” However, no concrete decisions have been made yet.
As a reminder, the EU is considering additional aid, as Ukraine risks running out of money. The deficit stands at $30 billion.
Meanwhile, Hungary continues to issue ultimatums to Ukraine. Initially, there was talk of blocking the loan to Ukraine; then Hungarian Prime Minister Viktor Orbán stated that he would not supply electricity within the framework of the European integrated energy system.
Then Hungary demanded that oil transit via the Druzhba pipeline be resumed, threatening to cut off gas supplies otherwise.
