Europe moves ahead with Ukraine aid plan as US pulls back

European leaders are expected to unveil a major aid package for Ukraine worth at least €140 billion over two years at the NATO summit in Ankara on July 7–8, while the United States reportedly plans to step back from the proposed financing initiative for Kyiv.

The report was published by Handelsblatt, citing sources in the German government.

According to the sources, a draft summit declaration prepared by EU leaders and Canada outlines a €70 billion support package for 2026, with at least an equivalent amount proposed for 2027. The document reportedly does not assign fixed contributions or national quotas, meaning funding levels would be negotiated individually with each member state.

The newspaper noted that the United States has largely distanced itself from participation in the initiative. It also reported that Washington pushed for both Ukraine funding and Ukraine’s NATO membership prospects to be excluded from the summit agenda.

By Vafa Guliyeva