G7 set to leave Ukraine with $52 billion budget black hole despite EU push

EVIAN, France — A statement being prepared by the G7 countries for publication on June 16 is expected to emphasize how Ukraine now has the upper hand against Russia on the battlefield, but is set to shy away from any of the big financial pledges needed to ensure Ukraine can keep financing that military success. The EU agreed a 90 billion euro ($105 billion) loan to Ukraine in April 2026, which is supposed to cover two-thirds of Ukraine's total financial and defense needs until the end of 2027.

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