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Ukraine is running out of money for defence: media outlets have set a deadline

Stanislav Sereda
Stanislav Sereda Journalist
Ukraine is running out of money for defence: media outlets have set a deadline
Funding the war
Ukraine risks finding itself in a critical financial situation and running out of funds for defence as early as June 2026. The main reason is delays and the blocking of aid from key Western partners.

Bloomberg reports this.

Ukraine has enough defence funding to last until June

According to estimates by Ukrainian and foreign officials speaking on condition of anonymity, Kyiv can currently cover its expenses only until June.

The US has virtually halted direct aid to Ukraine since Trump returned to power in January last year. Consequently, it is Europe that has shouldered the main burden – providing both weapons and financial support.

What threatens funding

Several factors are simultaneously undermining the flow of funds:

  • Hungary has blocked a €90 billion EU loan,
  • the next IMF tranche is under threat due to unapproved tax changes in parliament,
  • NATO allies are in no hurry to fund the PURL programme for the procurement of American weapons.

“If international funding does not materialise, the institution may have to resume direct lending to the Ministry of Finance to pay salaries to military personnel and staff,” said NBU Governor Andriy Pyshnyy in an interview with Bloomberg.

This would mean that the National Bank would simply be printing money – which would accelerate inflation.

How much money does Ukraine need for defence

  • $52 billion – the total requirement for foreign aid for 2026,
  • $15 billion – just for the purchase of American weapons,
  • $8.1 billion – the current IMF programme, the first tranche of which amounted to $1.5 billion.

European Commission President Ursula von der Leyen has assured that the EU will fulfil 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.

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