{
  "id": 10871813,
  "title": "Ukraine urges EU to use frozen Russian assets to plug budget gap",
  "url": "https://urgent.news/2026/09/30/ukraine-urges-eu-to-use-frozen-russian-assets-to-plug-budget-gap",
  "topic": "world",
  "section": "World",
  "published": "2026-09-30T05:41:00.000Z",
  "source": {
    "name": "New Voice of Ukraine",
    "slug": "new-voice-of-ukraine",
    "url": "https://english.nv.ua/nation/ukraine-asks-allies-to-tap-frozen-russian-assets-for-78-billion-budget-gap-50645814.html"
  },
  "original_language": "en",
  "account": "Ukrainian Finance Minister Serhii Marchenko called upon the European Union to utilize frozen Russian assets to address Ukraine's growing financial and military needs, which could amount to $78 billion by 2027, according to Euronews on September 29. Marchenko revealed that Ukraine has secured $20 billion in financial aid so far, leaving a $32.6 billion shortfall. The minister also highlighted that nearly $45 billion in defense spending remains unfunded, raising Ukraine's projected funding gap to $78 billion. Marchenko urged European partners to take \"bold actions\" regarding the frozen Russian assets, emphasizing that a prolonged war will only exacerbate Ukraine's financial burden. One potential solution being considered in Europe involves creating a centralized system to manage frozen Russian assets, transferring them from Belgium's Euroclear depository to an EU-controlled entity, thereby reducing legal and financial risks for Belgium, which currently holds the majority of the funds. The EU currently manages approximately $238 billion in immobilized Russian Central Bank assets, with the bloc channeling the interest earned from these assets into Ukraine. In August, the European Commission transferred an additional $1.6 billion, bringing the total windfall profits sent to Ukraine to around $9 billion since the freeze began. Marchenko cautioned that the 2027 budget outlook is the toughest since the full-scale invasion began, estimating the uncovered external financing gap at $32.6 billion. He suggested that European partners should reassess their efforts to find a mechanism to utilize the frozen Russian assets to bridge this gap. A letter signed by 123 Members of the European Parliament urged EU leaders to resume discussions on using the $215 billion in Russian state assets to aid Kyiv, warning that the previously approved $97 billion EU loan for 2026-2027 will fall short of covering Ukraine's escalating wartime requirements.",
  "summary": "Ukraine has urged the European Union to tap into frozen Russian assets to cover its financial and military needs, which could reach $78 billion by 2027, Ukrainian Finance Minister Serhii Marchenko said during a meeting with allies and international partners in Brussels, Euronews reported on September 29.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Kyiv Independent",
        "title": "Drone crashes in Moldova amid Russian mass attack on Ukraine",
        "url": "https://urgent.news/2026/09/30/drone-crashes-in-moldova-amid-russian-mass-attack-on-ukraine",
        "published": "2026-09-30T07:03:10.000Z"
      },
      {
        "outlet": "New Voice of Ukraine",
        "title": "Russian forces launch drones and missiles in overnight attack against Ukraine",
        "url": "https://urgent.news/2026/09/30/russian-forces-launch-drones-and-missiles-in-overnight-attack-against",
        "published": "2026-09-30T07:32:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}