EU Leaders to Discuss Ukraine's 2027 Funding and 2028–2034 Budget
EU leaders will hold a special European Council meeting on November 26–27 to discuss the EU’s 2028–2034 multiannual financial framework and financing for Ukraine in 2027. The European Council has asked the European Commission to develop options for covering Ukraine’s acknowledged €70 billion budget gap next year.
Key points
- The special European Council meeting is scheduled for November 26–27.
- The EU’s 2028–2034 multiannual financial framework and Ukraine’s 2027 financing are on the agenda.
- The European Council asked the European Commission to propose ways to cover Ukraine’s €70 billion budget gap for 2027.
- The European Commission acknowledged that Ukraine needs €70 billion in additional international financing for 2027.
- Volodymyr Zelenskyy said the war will cost Ukraine €155 billion next year.
- An informal European Council meeting focused on artificial intelligence is scheduled for November 13 in Dublin.
- The EU leaders’ informal gathering “Alden-Biesen-2” is provisionally scheduled for February 5, 2027.
Why it matters
The meeting places Ukraine’s immediate 2027 financing needs within the debate over the EU’s broader long-term budget. Ukraine faces an acknowledged €70 billion budget gap, while Ukrainian estimates put the cost of the war at €155 billion next year.
What happened
EU leaders scheduled a special European Council meeting for November 26–27. Its two main topics are the EU’s 2028–2034 multiannual financial framework and financing for Ukraine in 2027. The European Council has instructed the European Commission to prepare proposals for covering Ukraine’s €70 billion budget gap. The Commission has acknowledged that Ukraine requires €70 billion in additional financing from international partners in 2027.
Background
Before the special meeting, an informal European Council session focused on artificial intelligence is scheduled for November 13 in Dublin. The team of European Council President António Costa is holding separate consultations with all 27 EU member states, with an updated negotiating document on the multiannual financial framework expected before the November meeting. The informal “Alden-Biesen-2” leaders’ gathering is provisionally scheduled for February 5, 2027. Costa also proposed moving the March 2027 summit from Brussels to Rome on March 18–19, which would require unanimous support from all EU member states.