Balázs Ujvári
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Zelenskyy tells EU Ukraine needs an extra $27 billion by year-end, prompting surprise in Europe
President Volodymyr Zelenskyy told European partners that Ukraine needs an additional $27 billion by the end of 2026 to cover an unexpected defense budget gap. European officials, who had agreed on a $100 billion-plus EU loan earlier in the year, were taken aback by the size of the request and are privately questioning whether funds are being used effectively. Ukraine is also asking the United Kingdom, Canada and Japan to help close the gap, and is renewing calls to use frozen Russian sovereign assets held at Euroclear.