Sergii Marchenko participated in ECOFIN Council Meeting: Ukraine needs additional financial solutions for 2026

On June 19, the Minister of Finance of Ukraine Sergii Marchenko joined the meeting of the EU Economic and Financial Affairs Council (ECOFIN) online. The meeting was attended by finance ministers of EU member states, representatives of European institutions, and international financial institutions.

Key topics included Ukraine’s financial situation, budgetary needs for 2026, sanctions against russia, and the confiscation of its frozen assets.

Sergii Marchenko expressed gratitude to the EU for its consistent support since 2022, in particular for EUR 52.5 billion in budgetary assistance, including EUR 10.5 billion provided in 2025. He also congratulated Poland’s Finance Minister Andrzej Domański on the successful conclusion of Polish presidency of the Council of the European Union.

The Minister of Finance highlighted the resilience of Ukraine’s financial system: in January–May 2025, the State Budget was overperformed by USD 1 billion, domestic borrowing amounted to USD 5 billion, and external financing exceeded USD 20 billion. Ukraine's total financing needs for 2025 stand at over USD 39.3 billion, and this amount is already confirmed.

At the same time, Sergii Marchenko stressed that 2026 carries heightened uncertainty due to ongoing war risks, and Ukraine will require new approaches to financial support. He urged partners to consider mobilizing additional resources.

He also called for stronger sanctions pressure on russia: “Strength is the only language russia understands. Seventeen sanctions packages are a serious step, but further tightening is needed, especially in the financial and energy sectors.”

Sergii Marchenko welcomed the European Commission’s proposal for a gradual phase-out of russian oil and gas imports by 2027.

Finally, he urged a political decision on the confiscation of russia’s frozen assets in EU jurisdictions as an example of international accountability.