Ukraine could run out of defense funds by June 2026 — Bloomberg
Photo: Why Ukraine could lose funding (Getty Images)
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, according to Bloomberg.
Funds will last until June
According to estimates by Ukrainian and foreign officials who spoke on condition of anonymity, Kyiv can currently cover its expenses only until June.
The U.S. has virtually halted direct aid to Ukraine since Trump returned to power in January of last year. As a result, Europe has shouldered the bulk of the burden—providing both weapons and financial support.
What threatens funding
Several factors are simultaneously undermining the flow of funds:
- Hungary blocked a €90 billion EU loan
- The next IMF tranche is at risk due to unapproved tax changes in parliament
- NATO allies are in no hurry to fund the PURL program for purchasing American weapons.
National Bank of Ukraine Governor Andrii Pyshnyi, in an interview with Bloomberg, says that 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.
This would mean that the National Bank would simply print money, which would accelerate inflation.
How much money needed
- $52 billion — total foreign aid requirement for 2026
- $15 billion — for the purchase of American weapons alone
- $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 will fulfill its loan commitments one way or another.
Ukrainian Finance Minister Serhii Marchenko wrote on Facebook that he expects funds from the EU in the near future. However, no concrete decisions have been made yet.
The EU is considering additional aid, as Ukraine risks running out of money. The shortfall amounts to $30 billion.
Meanwhile, Hungary continues to issue ultimatums to Ukraine. Initially, there was talk of blocking a loan to Ukraine; then, Hungarian Prime Minister Viktor Orbán stated that he would not supply electricity within the framework of the European integrated power grid.
Then, Hungary demanded that oil transit via the Druzhba pipeline be resumed, threatening to cut off gas supplies to Ukraine otherwise.
