BRUSSELS – The European Union is exploring options to provide an additional €45 billion in financial assistance to Ukraine to address a larger-than-anticipated funding gap. Valdis Dombrovskis, the European Commissioner for Trade, confirmed that the European Commission is preparing a proposal to cover approximately two-thirds of Ukraine’s newly identified financial requirements. In October, Ukrainian President Volodymyr Zelensky informed EU leaders that the country requires an additional €70 billion in 2027 to support defense, armaments, and overall economic stability. “We are working to cover Ukraine’s financing gap, which has turned out to be larger than expected,” Dombrovskis told reporters in Brussels ahead of a meeting of EU finance ministers. The EU is currently providing Kyiv with a support loan package of €90 billion scheduled for 2026 and 2027. To secure the additional €45 billion, officials are considering a mechanism similar to the existing package, which involves utilizing interest generated from frozen Russian assets held within the European Union as collateral. “I am optimistic, but cautious, that we will manage to find a solution and secure this additional financing of €45 billion, in addition to the amount already foreseen,” Dombrovskis stated. EU leaders are expected to deliberate on the proposed aid during upcoming diplomatic engagements, including a summit scheduled for later this week in Dublin.