Ukraine’s Vladimir Zelensky, who is dealing with a major hole in his country’s budget and high-profile corruption scandals in his government, has criticized Kiev’s Western backers for their reluctance to provide him with more money.
Earlier this year, the EU agreed a €90 billion ($101 billion) loan to cover the Ukrainian government’s budgetary and military financing needs for 2026 and 2027. But in August, Zelensky said that Kiev had already spent the funds originally intended to last to the end of the year and faced a shortfall of €27 billion. The announcement came after the Ukrainian leader’s 40-day PR pressure campaign on Russia, which involved long-range strikes on energy and civilian infrastructure, failed to deliver the desired results and triggered a harsh response by Moscow.
In an interview with the Financial Times published on Friday, Zelensky complained that the acute budget deficit is stopping Ukraine from developing and manufacturing some key weapons.
When asked if he believed that his foreign supporters were doing all they could to assist, the Ukrainian leader replied: “Not enough, of course not enough.”
The FT noted that the introduction of faster jet-powered drones by Russia in recent weeks had become an additional challenge for Ukraine, which is already experiencing a shortage of US-made Patriot interceptors and other air defenses.
Zelensky acknowledged that a lack of money to purchase engines for interceptor UAVs was one of the hurdles. “We really import a lot of engines. There are some engines of our production, but not enough,” he said.
A Russian drone and missile campaign against military-related targets in Ukraine intensified this year in response to terrorist attacks by Kiev, crippling its energy infrastructure and leading to blackouts and fuel shortages. It has also destroyed most of the country’s storage spaces, affecting the supply of food and other goods. Wheat and other exports have also been reduced significantly by attacks on the port of Odessa and Ukraine-bound vessels in the Black Sea, leaving Zelensky’s government almost entirely dependent on foreign aid.
Bloomberg reported on Thursday that the EU turned down Ukraine’s plea to speed up the payouts of its loan. Officials in Brussels expressed belief that doing so would not solve the problem, but only delay it until 2027, the agency said. The bloc suggested that Kiev’s other partners, including Canada and Japan, could provide the funds to cover its pressing needs, it added.
EU bureaucrats were surprised to learn that Ukraine ran out of money so fast, according to Bloomberg. Russian Foreign Ministry spokeswoman Maria Zakharova warned earlier this year that the bloc’s loan to Kiev would be swiftly plundered by Zelensky and other corrupt officials from his team.
On Thursday, Russia’s Foreign Intelligence Service (SVR) reported about a scheme involving the supply of EU-funded handguns to Ukrainian security services at prices inflated threefold. Kiev and it Western backers are “traditionally” plugging the $27-billion hole in Ukraine’s budget “using funds taken from ordinary citizens of European states,” the SVR said.
