EU pressures allies over looming Ukraine funding crunch

{"text":[[{"start":10.84,"text":"Brussels is pressuring G7 partners to stump up funding for Ukraine next year to offset an expected drop in aid from non-EU countries."}],[{"start":21,"text":"According to a forecast by the European Commission, seen by the FT, Kyiv’s non-EU allies have so far pledged just €4bn for next year, down from €19bn in 2026. G7 members US, UK, Canada and Japan are collectively set to provide just €1bn, the analysis shows."}],[{"start":41.24,"text":"Kyiv has claimed it faces a €70bn financing gap next year — a figure confirmed by the Commission and which includes military funding after the last of the Biden-era arms are delivered. US President Donald Trump has ceased all direct US financing for Ukraine."}],[{"start":57.12,"text":"The EU has begun emergency planning to find additional sources of cash to maintain Ukraine’s fiscal stability next year if Nato and G7 partners do not step up."}],[{"start":66.8,"text":"EU leaders agreed at a summit this month to find additional support to meet Ukraine’s 2027 needs. Commission officials are working on various options, including jointly issuing debt, to be discussed at a summit in late November."}],[{"start":80.8,"text":"Leaders at the October summit also called “on international partners to swiftly step up their support” and have since engaged in bilateral dialogue with London, Ottawa and other capitals, according to diplomats."}],[{"start":92.78,"text":"The UK and Canadian governments are both preparing to announce their 2027 budgets, which Brussels will be watching for further aid pledges for Ukraine. Japan’s foreign ministry said it was “considering options to address Ukraine’s financing needs”."}],[{"start":106.48,"text":"Aid to Ukraine has become part of tense negotiations over EU’s future seven-year budget, which leaders aim to agree on by the end of the year, ahead of a string of elections in countries including France and Italy that could complicate decisions."}],[{"start":120.34,"text":"Brussels is not willing to make up the shortfall left by other allies and is applying diplomatic pressure on Ottawa, Tokyo and London to increase their support."}],[{"start":128.68,"text":"A Commission spokesperson said the EU and its member states accounted for 80 per cent of pledged Ukraine support for 2027, adding: “Europe cannot meet Ukraine’s financing needs alone . . . International partners must also step up, including Nato allies.”"}],[{"start":null,"text":"

"}],[{"start":144.32,"text":"Speaking in Bangkok this month, UK chancellor John Healey said it was time to “step up support for Ukraine” and said he was working on different ways for the UK to do that — in military, diplomatic and economic terms."}],[{"start":157.74,"text":"He said he was “very acutely aware of that bigger picture and the pressures on Ukraine”, adding: “The future of Ukraine is the future of European security.”"}],[{"start":167.04,"text":"The Treasury did not immediately respond to a request for comment ahead of the UK Budget on Wednesday."}],[{"start":172.74,"text":"A spokesperson for the Canadian finance ministry said Ottawa had provided C$27bn in commitments to Ukraine since the start of Russia’s full-scale invasion in 2022. “I won’t speculate on what may or may not be included in next week’s budget,” they said. The Canadian budget is on November 5."}],[{"start":191.44,"text":"A spokesperson for the Japanese ministry for foreign affairs disputed the Commission’s analysis, saying that his government “cannot make any definitive statements regarding the possibility of future financial support to Ukraine”."}],[{"start":203.96,"text":"“However, Japan is considering options to address Ukraine’s financing needs based on future developments . . . including discussions among G7 members,” they added."}],[{"start":213.72,"text":"Separately, Nato’s 32 members are €13bn short of a pledge made this year to allocate a total of €70bn in military support to Kyiv, according to the Commission estimates seen by the FT."}],[{"start":226.12,"text":"A Nato official said secretary-general Mark Rutte expected allies “to continue their strong support to Ukraine”."}],[{"start":237.2,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1793160724_7315.mp3"}