Von der Leyen: We have to decide on financing Ukraine at this European Council

European Commission President Ursula von der Leyen said this at the European Parliament plenary debate in preparation for the European Council meeting of December 18-19 and the need to support Ukraine, an Ukrinform correspondent reports.

"The IMF and our estimates show that Ukraine's needs for the years 2026 and 2027 are around about EUR 137 billion. Europe should cover two-thirds, that is EUR 90 billion. And this is not just about numbers, this is also about strengthening Ukraine's ability to secure a real peace — one that is just, one that is lasting, one that protects Ukraine and thus also protects Europe," von der Leyen said.

According to her, the issue of financing Ukraine is also about ramping up the cost of war for Russia. That is why two options have been proposed for consideration by the European Council: one based on assets and one based on EU borrowing.

"And we will have to decide which way we want to take. But one thing is very clear, we have to take the decision to fund Ukraine for the next two years this European Council," von der Leyen said.

She noted that the first important step in this direction was the sustained immobilization of Russian assets until Russia stops the war and until pays duly reparations to Ukraine for all the damages done.

"There is no more important act of European defense than supporting Ukraine's defense. The next days will be a crucial step for securing this. It is up to us to choose how we fund Ukraine's fight," von der Leyen said.