The 90 billion euro loan to Ukraine: Could it run out after 8 months?
Ukraine risks rapidly disbursing its 90 billion euro EU loan in less than a year. With its current massive military spending, Kyiv faces a particularly difficult financial challenge, especially given the significant fluctuations in international aid sources.
According to the TASS news agency,The firm's calculations show that, at the current cost of maintaining the war, Ukraine will completely exhaust the 90 billion euro loan from the EU in just 232 days (i.e., less than eight months).
Previously, Kyiv officials had estimated the current cost of operations at around $450 million per day (equivalent to approximately €387 million).
Despite the enormous costs, Ukraine's projected revenue for 2026 is only about $69 billion. If military spending continues at the current rate, all of this revenue will evaporate in just 153 days of combat.
Overall, since the end of 2025, Kyiv has had to adjust its estimated costs for continuing the conflict with Russia upwards by more than $40 billion per year. At that time, President Volodymyr Zelensky noted that Ukraine needed approximately $120 billion per year, of which about half had to be allocated directly to military spending.
However, if calculated based on actual spending of $450 million per day, Kyiv would need approximately $164 billion per year (equivalent to about €141 billion).
In fact, the European Union (EU) does not plan to disburse the entire loan in 2026. Brussels intends to allocate the funds gradually until the end of 2027.
Even though the EU is breaking down the disbursement schedule, meeting Ukraine's ever-increasing financial needs will almost entirely fall on the shoulders of European nations. Currently, the International Monetary Fund (IMF) and other allies' participation in financing is quite modest. Most notably, the US has completely ended its direct financial aid programs to Kyiv.
It should be noted that the aforementioned EU loan amount does not include bilateral funding for Kyiv, direct arms deliveries, or procurement programs from the US (PURL Priority Needs List).
Specifically, within the framework of the Defense Contact Group on Ukraine alone, Kyiv has received commitments to supply military equipment worth $38 billion for 2026. In addition, European countries have also committed approximately $4.8 billion through the PURL program, as of the end of March 2026.