Ukraine could run out of money for the war as early as June — Bloomberg
Ukraine risks running out of the funding it needs to wage war in the very near future.
A confluence of geopolitical factors has jeopardized the receipt of tens of billions of euros from key international donors, creating a critical shortfall in the state budget.
According to Bloomberg, Kyiv’s current reserves will only be sufficient to cover expenditures until June 2026.
The situation has worsened after the U.S. effectively halted direct support for Ukraine following Donald Trump’s return to the White House in January 2025.
The main obstacle in Europe was Hungary’s veto on a 90-billion-euro loan from the European Union.
In addition, disputes arose over the next IMF aid package, and NATO initiatives regarding a stable supply of weapons have significantly weakened.
Andriy Pyshnyy, Governor of the National Bank of Ukraine, noted in an interview with Bloomberg that in the absence of international tranches, the institution would be forced to resort to extreme measures.
This involves resuming direct lending to the Ministry of Finance to pay military salaries.
“If international funding does not arrive, the NBU may, in the worst-case scenario, be forced to resume direct lending to the Ministry of Finance,” the regulator’s head emphasized.
These funds are critically needed to finance the military and provide basic social services.
At the same time, the Russian Federation is increasing its revenues thanks to the rapid rise in global oil prices.
The escalation of the conflict in the Middle East not only fills the aggressor’s budget but also diverts the attention of the U.S. president and Washington’s military resources away from the Ukrainian issue.
According to estimates by financial authorities, Ukraine’s total need for foreign aid for 2026 amounts to $52 billion.
In particular, Kyiv needs $15 billion just to purchase American weapons, which it now has to buy at its own expense.
As a reminder, from a few years to infinity: how much longer could the war in Ukraine last?
Also, Russia lost 1,000 soldiers in the war against Ukraine in a single day.
