Serhiy Koretskyi
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EU rejects Ukraine's request to front-load 2027 funding, urges reforms to unlock €34 billion in 2026
The European Union has turned down Ukraine's request to receive part of its 2027 financial support early, telling Kyiv instead to complete promised reforms that could unlock about €34 billion still available this year. Ukraine had asked the European Commission to front-load tranches from a €90 billion EU loan agreed in late 2025 to cover an estimated $27 billion defense funding gap. So far in 2026, Ukraine has received only €15.7 billion from the loan, with slow reform implementation cited as a key reason for the delay.
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Ukraine's finance minister says $29.5B needed for budget, $27B additional defense gap beyond EU loan
Ukraine's Finance Minister Serhiy Marchenko said the country needs $29.5 billion in non-military budget support from international partners by the end of 2026 and faces a separate $27 billion additional defense need beyond the EU's Ukraine Support Loan. His comments drew an implicit contrast with the European Commission's October 2 statement that there is no external financing gap for Ukraine this year.
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Zelenskyy: Ukraine will intensify strikes on Russian oil refineries, says FP-9 missile ready this autumn
In a wide-ranging Reuters interview, President Volodymyr Zelenskyy said Ukraine will step up strikes on Russian oil refineries in response to a new Russian aerial campaign, citing intercepted documents that he said point to a Putin-approved "new doctrine" allowing strikes on a broader range of civilian targets ahead of winter. He confirmed first combat use of the domestically produced FP-7 ballistic missile this week and said the longer-range FP-9, which he said can reach Moscow, will be ready this autumn. Zelenskyy also said he is ready to meet Vladimir Putin at the G20 summit in Miami in December while urging the United States not to normalize relations with Moscow until peace is restored.
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EU and Ukraine say 2026 budget and defence needs can be covered; Commission denies any financing gap
On 1 October 2026 the European Commission and Ukraine issued a joint statement saying they had identified the means to cover Ukraine's 2026 budget and defence needs and outlining the steps needed for timely disbursement. The next day Commission chief spokesperson Paula Pinho said the EU and Ukraine had jointly concluded there is no external financing gap for 2026, and the Commission disbursed a €2.9 billion tranche under the Ukraine Facility. The Financial Times reported that EU Commissioners formally declined Ukraine's request to front-load part of the 2027 loan, linking further payments to reforms.
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Ukraine says defence deficit for 2026 is $27 billion, $20 billion in partner talks
Ukrainian Prime Minister Serhiy Koretsky said Ukraine's 2026 defence budget deficit stands at $27 billion. About $7 billion is to be covered through domestic austerity and reallocation, while the remaining $20 billion is being negotiated with international partners. The government is racing to meet commitments by mid-October or risk losing access to $29.5 billion in planned international financing.
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Russia launches massive combined missile and drone strike on Kyiv overnight, killing civilians including a child
In the night of 29–30 September 2026, Russia carried out a large-scale combined missile and drone attack on Ukraine with the main strike direction targeting Kyiv and Kyiv Oblast. Ukrainian air defense reported intercepting 5 ballistic missiles and 155 of 188 launched drones. Two women were killed in Kyiv and a child died in Vyshhorod, where rescuers pulled three survivors from the rubble of a destroyed house. Fires and damage were recorded in four Kyiv districts and across multiple Kyiv Oblast districts, and 8,000 Kyiv households lost power before DTEK restored supply.
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Ukraine completes opening of all 43 claim categories at international damage register
The International Register of Damage Caused by Russia's Aggression Against Ukraine (RD4U) completed the phased opening of all 43 claim categories on 30 September. The categories cover damages to individuals, legal entities, and the State of Ukraine. The Register has received about 195,000 claims, of which more than 65,000 have been entered into the Register.
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Ukrenergo cancels 1 October power outage schedules after Russian attack on energy grid
Ukrenergo announced scheduled electricity consumption limits for 1 October in several Ukrainian regions, citing damage from a large Russian missile and drone attack on energy facilities overnight on 30 September. Later the same day, the grid operator cancelled the previously announced hourly outages and industrial restrictions. Some consumers in frontline oblasts remained without power, while Ukrenergo asked households in Kyiv, Kyiv Oblast, and Zhytomyr Oblast to limit use of powerful appliances in the evening.
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IMF estimates Ukraine's financing gap at $54 billion through 2029 as donors meet in Brussels
On September 29, Ukraine's donors gathered in Brussels to accelerate talks on further financial assistance, as IMF estimates put Ukraine's financing gap at about $54 billion through 2029. EU member states remain divided on whether to use roughly €210 billion in frozen Russian central-bank assets or issue new common debt, while the European Commission and IMF tie further assistance to Ukraine's implementation of a reform plan.
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Russian guided bombs hit Sumy school during classes; two killed, children among wounded
On 29 September 2026, Russian forces struck the city of Sumy with guided aerial bombs, one of which hit a school in the Zarichnyi district where classes were in session. Children and staff were sheltering at the time; about 100 people were evacuated and no injuries were reported at the school. Two people were killed in their homes in the private residential sector, and multiple children were among the wounded. President Zelenskyy condemned the attack and called on Ukraine's international partners to increase pressure on Russia.
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EU drafts individual membership roadmaps for Ukraine, Moldova, Montenegro and Albania
The EU is preparing four individual accession "roadmaps" for Montenegro, Ukraine, Moldova and Albania that would set out indicative timelines for completing accession negotiations and for closing negotiating clusters, alongside a separate pre-enlargement policy review due on 6 October. Two senior EU officials described the plans to Politico, and a European Commission spokesperson confirmed the roadmaps would define the path to completing membership talks with a clear list of priorities, timelines and results. Seven other candidates are excluded from this round.
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Ukraine suspends non-priority spending as PM warns of critical fiscal squeeze
Ukraine's Cabinet of Ministers approved a decision on 28 September prioritizing state expenditures toward defense, pensions, social payments and public-sector salaries, while suspending non-critical construction, reconstruction, capital repairs and beautification projects until the end of the war. Prime Minister Serhiy Koretsky said part of the pressure stems from delayed international financing, in part because Ukraine has not fulfilled some of its commitments to international partners. The government has identified about $7 billion through internal optimization against a reported $27 billion Ministry of Defense deficit.
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Ukraine's PM ties 2027 VAT hike to war-risk insurance fund for businesses hit by Russian strikes
Prime Minister Serhiy Koretsky said a planned 1-percentage-point increase in Ukraine's standard VAT rate, from 20% to 21% under the draft 2027 state budget, is needed to finance a new fund that would promptly compensate businesses for damage caused by Russian missile and drone strikes. Speaking to TSN.Tyzhden, he said Ukraine plans an initial state contribution of about $1 billion, with the government expecting international partners to add roughly four times that amount for a total fund of about $5 billion.
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Ukraine's defense budget faces $27 billion deficit, PM says $20 billion to come from partners
Prime Minister Serhiy Koretsky said Ukraine's defense budget has a $27 billion shortfall — part of the $155 billion war financing figure declared at February's Ramstein-format meeting. Around $7 billion is to be covered through domestic austerity and internal reallocation, with roughly $20 billion being sought from international partners for drones, missiles and military equipment.
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Russia strikes 13 oblasts and Kyiv in mass overnight drone and missile attack; four killed in Dnipro
Russian forces launched a combined drone and missile attack on the night of 21–22 September, striking 13 Ukrainian oblasts and Kyiv. In Dnipro, a missile strike killed four people and injured six, with a rescue operation ongoing. Ukrainian air defence intercepted 186 aerial targets, but hits and debris were recorded at 26 locations, with damage to energy and railway infrastructure, fuel storage, food warehouses and residential buildings.
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Zelensky tells IMF's Georgieva in New York that Fund will help Ukraine secure part of 2027 financing
President Volodymyr Zelensky met IMF Managing Director Kristalina Georgieva on the sidelines of the 81st UN General Assembly in New York on September 22, and said the IMF will help Ukraine find part of the funds needed for its financial stability in 2027. Zelensky told Georgieva that the Verkhovna Rada had already passed some of the legislation required by partners and that the remaining laws would be adopted by year's end.
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Ukraine receives $841 million from World Bank under Canadian guarantees for pension payments
Ukraine has received $841 million in financing from the World Bank under guarantees from the Canadian government, with the funds directed to reimbursing state budget pension expenditures. The transfer was raised under the PEACE in Ukraine project, whose total volume has now reached $54.3 billion. Prime Minister Serhiy Koretsky announced the funding via Telegram and thanked Canada and the World Bank for timely assistance amid a significant budget deficit.
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Russia hits 10 Ukrainian oblasts in massive overnight drone salvo; Zelensky links it to signals of war expansion
Russian forces launched 172 strike drones at Ukraine overnight on 20–21 September, hitting 10 oblasts and damaging civilian and energy infrastructure. President Volodymyr Zelensky described a strike on Zaporizhzhia as "harsh and targeted" and said Russia is sending signals about readiness to expand the war, tying the attack to upcoming UN General Assembly diplomacy.
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Bloomberg: Russia may be stockpiling ballistic missiles for winter strikes on Ukraine's energy sector
Bloomberg reported on September 21 that Russia has significantly reduced its use of ballistic missiles against Ukraine since August, instead relying more on jet drones, and may be stockpiling ballistic missiles for renewed strikes on energy and heating infrastructure during the winter cold season. Ballistic missiles have historically caused some of the heaviest damage to Ukrainian energy facilities, and a shortage of Patriot interceptors remains a key vulnerability heading into winter.
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Russian strikes idle three plants that produced 90% of Ukraine's steel
Russian ballistic missile strikes in early September knocked out three major Ukrainian metallurgical plants — Zaporizhstal, Kametstal and ArcelorMittal Kryvyi Rih — which together had accounted for about 90% of Ukraine's steel output. The attacks killed 17 workers and halted production at facilities employing more than 15,000 people. Metinvest's Oleksandr Vodoviz said Ukraine "effectively no longer has a steel industry."