{"id":2127550,"date":"2026-09-04T07:21:43","date_gmt":"2026-09-04T04:21:43","guid":{"rendered":"https:\/\/analyse.optim.biz\/?p=2127550"},"modified":"2026-09-04T07:21:43","modified_gmt":"2026-09-04T04:21:43","slug":"exclusive-ukraine-finance-chief-warns-of-tightest-budget-since-war-started-ahead-of-very-difficult-winter","status":"publish","type":"post","link":"https:\/\/analyse.optim.biz\/?p=2127550","title":{"rendered":"Exclusive: Ukraine finance chief warns of tightest budget since war started ahead of &#8216;very difficult winter&#8217;"},"content":{"rendered":"<p>[analyse_image type=&#8221;featured&#8221; src=&#8221;https:\/\/images.euronews.com\/articles\/stories\/09\/90\/05\/77\/1200x675_cmsv2_73ae0399-be98-54be-9925-ce2e70f828cc-9900577.jpg&#8221;]<\/p>\n<article id=\"abe-2922833-pos1-c-latest-stories\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 m-modeXL-1\" data-nid=\"2922833\" data-cid=\"9900655\" data-part-label=\"Partner content\">\n<figure id=\"abe-2922833-label-pos1-c-latest-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/90\/00\/38\/189x106_cmsv2_4caed9e3-37b3-5bd5-9dc3-7285a5a3935e-9900038.jpg\" loading=\"lazy\" alt=\"uropean Union flags flap in the wind as pedestrians walk by EU headquarters in Brussels (AP Photo\/Virginia Mayo, \" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Europe News<\/p>\n<div class=\"the-media-object__title  \"><span class=\"c-article-title__prefix--grey\">Euroviews. <\/span><\/p>\n<p>    EU sanctions: a person must never be merely a means to an end\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2923050-pos2-c-latest-stories\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 m-modeXL-1\" data-nid=\"2923050\" data-cid=\"9901195\" data-part-label=\"Partner content\">\n<figure id=\"abe-2923050-label-pos2-c-latest-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/90\/11\/35\/189x106_cmsv2_c2213856-e26e-54f6-a2d9-9e1e9a825b77-9901135.jpg\" loading=\"lazy\" alt=\"microscope image showing a nanoPET with magnetic nanoparticles\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Tech News<\/p>\n<div class=\"the-media-object__title  \">\n<p>    CSIC develops magnetic &#8220;nanoflowers&#8221; to capture and convert water nanoplastics\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2923040-pos3-c-latest-stories\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 m-modeXL-1\" data-nid=\"2923040\" data-cid=\"9901089\" data-part-label=\"Partner content\">\n<figure id=\"abe-2923040-label-pos3-c-latest-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/90\/10\/89\/189x106_cmsv2_5af5604f-096c-5ad4-b4f1-b9e6b7a35cb2-9901089.jpg\" loading=\"lazy\" alt=\"FILE. US Treasury Secretary Scott Bessent speaks to reporters during a news conference at the conclusion of the G20 Finance Ministerial in North Carolina, 1 Sept. 2026\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Economy<\/p>\n<div class=\"the-media-object__title  \">\n<p>    US claims EU joined new Iran sanctions push, yet Brussels only endorsed it\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2923044-pos4-c-latest-stories\" class=\"the-media-object m-modeMobile-1 m-modeDesktop-1 m-modeXL-1\" data-nid=\"2923044\" data-cid=\"9901129\" data-part-label=\"Partner content\">\n<figure id=\"abe-2923044-label-pos4-c-latest-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/90\/11\/29\/189x106_cmsv2_c6467192-db1b-55d8-83ca-957f33eb19b3-9901129.jpg\" loading=\"lazy\" alt=\"Nick Kyrgios, of Australia, reacts during his match against Mackenzie McDonald at the Miami Open tennis tournament, Wednesday, March 19, 2025, in Miami Gardens, Fla.\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Sport<\/p>\n<div class=\"the-media-object__title  \">\n<p>    Nick Kyrgios handed one-month ban following positive cocaine test\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2922833-pos1-c-latest-stories-sidebar\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2\" data-nid=\"2922833\" data-cid=\"9900655\" data-part-label=\"Partner content\">\n<figure id=\"abe-2922833-label-pos1-c-latest-stories-sidebar\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/90\/00\/38\/189x106_cmsv2_4caed9e3-37b3-5bd5-9dc3-7285a5a3935e-9900038.jpg\" loading=\"lazy\" alt=\"uropean Union flags flap in the wind as pedestrians walk by EU headquarters in Brussels (AP Photo\/Virginia Mayo, \" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Europe News<\/p>\n<div class=\"the-media-object__title  \"><span class=\"c-article-title__prefix--grey\">Euroviews. <\/span><\/p>\n<p>    EU sanctions: a person must never be merely a means to an end\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2923050-pos2-c-latest-stories-sidebar\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2\" data-nid=\"2923050\" data-cid=\"9901195\" data-part-label=\"Partner content\">\n<figure id=\"abe-2923050-label-pos2-c-latest-stories-sidebar\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/90\/11\/35\/189x106_cmsv2_c2213856-e26e-54f6-a2d9-9e1e9a825b77-9901135.jpg\" loading=\"lazy\" alt=\"microscope image showing a nanoPET with magnetic nanoparticles\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Tech News<\/p>\n<div class=\"the-media-object__title  \">\n<p>    CSIC develops magnetic &#8220;nanoflowers&#8221; to capture and convert water nanoplastics\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2923040-pos3-c-latest-stories-sidebar\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2\" data-nid=\"2923040\" data-cid=\"9901089\" data-part-label=\"Partner content\">\n<figure id=\"abe-2923040-label-pos3-c-latest-stories-sidebar\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/90\/10\/89\/189x106_cmsv2_5af5604f-096c-5ad4-b4f1-b9e6b7a35cb2-9901089.jpg\" loading=\"lazy\" alt=\"FILE. US Treasury Secretary Scott Bessent speaks to reporters during a news conference at the conclusion of the G20 Finance Ministerial in North Carolina, 1 Sept. 2026\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Economy<\/p>\n<div class=\"the-media-object__title  \">\n<p>    US claims EU joined new Iran sanctions push, yet Brussels only endorsed it\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article id=\"abe-2923044-pos4-c-latest-stories-sidebar\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2\" data-nid=\"2923044\" data-cid=\"9901129\" data-part-label=\"Partner content\">\n<figure id=\"abe-2923044-label-pos4-c-latest-stories-sidebar\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/90\/11\/29\/189x106_cmsv2_c6467192-db1b-55d8-83ca-957f33eb19b3-9901129.jpg\" loading=\"lazy\" alt=\"Nick Kyrgios, of Australia, reacts during his match against Mackenzie McDonald at the Miami Open tennis tournament, Wednesday, March 19, 2025, in Miami Gardens, Fla.\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n                    Sport<\/p>\n<div class=\"the-media-object__title  \">\n<p>    Nick Kyrgios handed one-month ban following positive cocaine test\n  <\/p><\/div>\n<\/div>\n<\/article>\n<article class=\"helper-site-row o-article-newsy\">\n<div class=\"helper-site-container o-article-newsy__container\">\n<div class=\"o-article-newsy__main\">\n<header class=\"h-grid o-article-newsy__main__header\">\n<nav aria-label=\"Breadcrumbs\" class=\"c-article-breadcrumbs\">\n<div id=\"adb-article-breadcrumb\" class=\"c-article-breadcrumbs__list\">\n<p>                          Europe<\/p>\n<p>                          Europe News<\/p>\n<p>                          Europe Today<\/p><\/div>\n<\/nav>\n<h1 class=\"c-article-redesign-title\">\n                            Exclusive: Ukraine finance chief warns of tightest budget since war started ahead of &#8216;very difficult winter&#8217;<\/h1>\n<div class=\"c-article-image-video u-position-relative \">\n<div class=\"js-superdiv u-aspect-ratio-16x9 u-position-relative \" data-controller=\"video-player\" data-sponsored=\"Partner content\"><img fetchpriority=\"high\" decoding=\"async\" class=\"js-poster-img c-article-media__img\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/90\/05\/77\/1536x864_cmsv2_73ae0399-be98-54be-9925-ce2e70f828cc-9900577.jpg\" width=\"1536\" height=\"864\" loading=\"eager\" alt=\"Sergii Marchenko, Ukrainian Finance Minister\"><\/div>\n<div class=\"c-article-caption u-position-absolute\"><i id=\"article-caption-content\" class=\"c-article-caption__content\"><span class=\"c-article-caption__text\"><br \/>\n              Sergii Marchenko, Ukrainian Finance Minister<br \/>\n                    <span class=\"u-color-white\">&#8211;\u00a0<\/span><span class=\"c-article-caption__copyright\">Copyright\u00a0<\/span><span class=\"c-article-caption__credit\">Euronews<\/span><\/span><\/i><\/div>\n<div class=\"c-article-image-copyright c-article-image-copyright--novideo\">\n      Copyright\u00a0Euronews\n  <\/div>\n<\/div>\n<\/header>\n<div class=\"h-grid o-article-newsy__main__body u-article-content\">\n<div class=\"o-article-newsy__contributors-publication-date\">\n<div class=\"c-article-contributors\">\n  By&amp;nbspMaria Tadeo\n<\/div>\n<div class=\"c-article-publication-date\" data-timestamp=\"1788506503\">\n                    Published on                 <time datetime=\"2026-09-04 09:21:43 +02:00\">04\/09\/2026 &#8211; 9:21 GMT+2<\/time><span class=\"c-article-publication-date__bullet\">\u2022<\/span>Updated<br \/>\n                                     <time datetime=\"09:39\">9:39<\/time><\/div>\n<\/div>\n<div class=\"c-article-share-comment u-align-items-center u-display-flex\"><span class=\"c-article-share-comment__links u-align-items-center u-display-flex u-justify-content-center js-c-article-share-comment-share\"><span class=\"c-article-share-comment__label\">Share<\/span><\/span><span class=\"c-article-share-comment__label\">Comments<\/span><span class=\"c-article-share-comment__label c-article-share-comment__label--always\">Add Euronews on Google<\/span><\/div>\n<div class=\"c-article-share-comment-popup-overlay js-c-article-share-comment-popup-overlay u-display-none\">\n<div id=\"js-c-article-share-comment-popup\" class=\"c-article-share-comment-popup js-c-article-share-comment-popup\">\n<div class=\"c-article-share-comment-popup__header u-display-flex\"><span>Share<\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/icon-close.svg\" width=\"24\" height=\"24\" alt=\"Close Button\" class=\"u-cursor-pointer js-c-article-share-comment-close\" loading=\"lazy\"><\/div>\n<div class=\"c-article-share-comment-popup__content u-display-flex\">\n<div id=\"share-comment-popup-content-container\" class=\"c-article-share-comment-popup__content__container u-display-flex\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-facebook.svg\" width=\"24\" height=\"24\" alt=\"facebook\" loading=\"lazy\"><span>Facebook<\/span><\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-facebook.svg\" width=\"48\" height=\"48\" alt=\"facebook\" class=\"u-show-for-desktop\" loading=\"lazy\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-twitter.svg\" width=\"24\" height=\"24\" alt=\"twitter\" loading=\"lazy\"><span>Twitter<\/span><\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-twitter.svg\" width=\"48\" height=\"48\" alt=\"twitter\" class=\"u-show-for-desktop\" loading=\"lazy\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-flipboard.svg\" width=\"24\" height=\"24\" alt=\"flipboard\" loading=\"lazy\"><span>Flipboard<\/span><\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-flipboard.svg\" width=\"48\" height=\"48\" alt=\"flipboard\" class=\"u-show-for-desktop\" loading=\"lazy\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-send.svg\" width=\"24\" height=\"24\" alt=\"send\" loading=\"lazy\"><span>Send<\/span><\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-send.svg\" width=\"48\" height=\"48\" alt=\"send\" class=\"u-show-for-desktop\" loading=\"lazy\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-reddit.svg\" width=\"24\" height=\"24\" alt=\"reddit\" loading=\"lazy\"><span>Reddit<\/span><\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-reddit.svg\" width=\"48\" height=\"48\" alt=\"reddit\" class=\"u-show-for-desktop\" loading=\"lazy\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-linkedin.svg\" width=\"24\" height=\"24\" alt=\"linkedin\" loading=\"lazy\"><span>Linkedin<\/span><\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-linkedin.svg\" width=\"48\" height=\"48\" alt=\"linkedin\" class=\"u-show-for-desktop\" loading=\"lazy\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-messenger.svg\" width=\"24\" height=\"24\" alt=\"messenger\" loading=\"lazy\"><span>Messenger<\/span><\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-messenger.svg\" width=\"48\" height=\"48\" alt=\"messenger\" class=\"u-show-for-desktop\" loading=\"lazy\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-telegram.svg\" width=\"24\" height=\"24\" alt=\"telegram\" loading=\"lazy\"><span>Telegram<\/span><\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-telegram.svg\" width=\"48\" height=\"48\" alt=\"telegram\" class=\"u-show-for-desktop\" loading=\"lazy\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-vk.svg\" width=\"24\" height=\"24\" alt=\"vk\" loading=\"lazy\"><span>VK<\/span><\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-vk.svg\" width=\"48\" height=\"48\" alt=\"vk\" class=\"u-show-for-desktop\" loading=\"lazy\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-bluesky.svg\" width=\"24\" height=\"24\" alt=\"bluesky\" loading=\"lazy\"><span>Bluesky<\/span><\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-bluesky.svg\" width=\"48\" height=\"48\" alt=\"bluesky\" class=\"u-show-for-desktop\" loading=\"lazy\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-threads.svg\" width=\"24\" height=\"24\" alt=\"threads\" loading=\"lazy\"><span>Threads<\/span><\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-threads.svg\" width=\"48\" height=\"48\" alt=\"threads\" class=\"u-show-for-desktop\" loading=\"lazy\"><span class=\"u-display-flex u-gap-1 u-show-for-mobile-only\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-whatsapp.svg\" width=\"24\" height=\"24\" alt=\"whatsapp\" loading=\"lazy\"><span>Whatsapp<\/span><\/span><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/social-icons\/article-redesign-whatsapp.svg\" width=\"48\" height=\"48\" alt=\"whatsapp\" class=\"u-show-for-desktop\" loading=\"lazy\"><\/div>\n<div class=\"c-article-share-comment-popup__content__embed_container u-display-none\"><span class=\"c-article-share-comment-popup__content__embed__tooltip\"><br \/>\n                            Copy\/paste the article video embed link below:<br \/>\n                        <\/span><span class=\"c-article-share-comment-popup__content__embed u-display-flex\"><img decoding=\"async\" src=\"https:\/\/static.euronews.com\/website\/images\/vector\/icon-copy-to-clipboard.svg\" width=\"16\" height=\"16\" alt=\"Copy to clipboard\" class=\"u-cursor-pointer js-c-article-share-comment-copy\" loading=\"lazy\"><span class=\"c-article-share-comment-popup__content__embed--success-copied u-display-none js-c-article-share-comment-video-embed-success-link-copied\"><br \/>\n                                Copied<br \/>\n                            <\/span><\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<h2 class=\"c-article-summary\">\n        Marchenko tells Euronews exclusively that the country has not faced such budget constraints since 2022, the year the full-scale war began. He also calls for Russia frozen assets to be revived under new custodianship plan.<br \/>\n    <\/h2>\n<div class=\"c-article-content js-article-content\">\n<p>Ukraine&#8217;s finance minister has warned that the country may have to cut non-military spending unless it can secure funding from its allies, as he urged European ministers to \u201cthink outside the box\u201d as Kyiv faces another winter of Russian escalation.<\/p>\n<div>\n<div class=\"c-ad u-show-for-mobile-only\">\n<div class=\"c-ad__placeholder\"><img decoding=\"async\" class=\"c-ad__placeholder__logo\" src=\"https:\/\/static.euronews.com\/website\/images\/logos\/logo-euronews-stacked-outlined-72x72-grey-9.svg\" width=\"72\" height=\"72\" alt loading=\"lazy\"><span>ADVERTISEMENT<\/span><\/div>\n<\/div>\n<div class=\"c-ad u-show-for-desktop\">\n<div class=\"c-ad__placeholder\"><img decoding=\"async\" class=\"c-ad__placeholder__logo\" src=\"https:\/\/static.euronews.com\/website\/images\/logos\/logo-euronews-stacked-outlined-72x72-grey-9.svg\" width=\"72\" height=\"72\" alt loading=\"lazy\"><span>ADVERTISEMENT<\/span><\/div>\n<\/div>\n<\/div>\n<p>Sergii Marchenko, who has overseen the country&#8217;s finances since 2020, told Euronews Ukraine had not faced such a tight budget situation since the start of the full-scale invasion in 2022.<\/p>\n<p>With the focus on military spending and weapons procurement, other areas of the budget could be affected and disbursements delayed unless a solution is found.<\/p>\n<p>\u201cWe already see some liquidity issues, and we envisage some shortages in our budget,\u201d he told Europe Today. \u201cIt means we may have to postpone some payments not related to the war because of a lack of liquidity. There will be consequences.\u201d<\/p>\n<p>Asked whether this could affect external creditors, Marchenko said it would not.<\/p>\n<p>He said, however, that the impact could be felt at the local level, particularly when it comes to building shelters and constructing infrastructure, which he described as \u201cstill important\u201d as the country prepares for another winter of Russian attacks.<\/p>\n<p>\u201cWe haven&#8217;t had a situation like this since 2022; we really suffered from the shortage of liquidity. Right now, we are getting far too near to the same scenario we had in 2022.\u201d<\/p>\n<p>He told Euronews that the intensity of Russian attacks on Ukraine had escalated sharply in August. Marchenko said he is working on a new budget on the assumption that the war will continue into 2027, with an estimated funding shortfall of $32.6 billion to be covered. He said the IMF, which visited Kyiv this week, sees similar numbers.<\/p>\n<p>\u201cThe war has intensified very quickly. We realise that ourselves. It is a totally different reality compared with last month, with the recent attacks on our logistics. We expect a very hard winter. Escalation means we have to find the means to survive it,\u201d he said.<\/p>\n<h2>&#8216;Thinking outside of the box&#8217;<\/h2>\n<p>Ukraine&#8217;s finance minister urged European ministers to think creatively about solutions and consider a new Ukrainian plan to tap into approximately $300 billion of frozen Russian assets. The plan was rejected by EU ministers last December as they struggled to bridge their differences, with a \u20ac90 billion loan jointly financed decided instead.<\/p>\n<p>Last week, a group of EU countries led by Sweden revived the plan, arguing that the cost of the war effort must be distributed fairly among European taxpayers. Since President Donald Trump took office, the EU has largely been left alone in footing the bill.<\/p>\n<p>Marchenko welcomed the move and said he hoped more countries would rally around it before a scheduled meeting of euro area finance ministers takes place in September.<\/p>\n<p>He said the new Ukrainian plan, which would shift custodianship of the assets currently held in Belgium, had introduced \u201ctotally new elements\u201d to mitigate the legal risks for the Belgian government and Euroclear, which holds the assets.<\/p>\n<p>\u201cWe want to discuss it; the plan creates new conditions where it is not the responsibility of Belgium to face court disputes with Russia, but the joint responsibility of the 27.\u201d<\/p>\n<p>Still, Ukraine and its allies in favour of the plan, including neighbouring Poland, Sweden, the Netherlands and Spain, face an uphill battle to revive the idea.<\/p>\n<p>Last December, amid serious concerns from the European Central Bank and strong resistance from key member states Italy and France, the EU shelved a long-fought plan to deploy the frozen assets.<\/p>\n<p>Fear Russian retaliation, reputational damage to the euro area, and lengthy legal disputes over possible confiscation claims from Moscow, were cited among the reasons.<\/p>\n<\/div>\n<p>                                  Go to accessibility shortcuts<\/p>\n<div class=\"c-article-share-comment u-align-items-center u-display-flex\"><span class=\"c-article-share-comment__links u-align-items-center u-display-flex u-justify-content-center js-c-article-share-comment-share\"><span class=\"c-article-share-comment__label\">Share<\/span><\/span><span class=\"c-article-share-comment__label\">Comments<\/span><span class=\"c-article-share-comment__label c-article-share-comment__label--always\">Add Euronews on Google<\/span><\/div>\n<div id=\"adb-article-you-might-also-like\" class=\"perf-cv-auto c-article-you-might-also-like\">\n<h2 class=\"c-article-you-might-also-like__title\">\n        Read more<br \/>\n      <\/h2>\n<div class=\"c-article-you-might-also-like__item\">\n<h3>\n<p>                  Belgium pushes back against new attempt to use Russian assets to support Ukraine<\/p>\n<\/h3>\n<\/div>\n<div class=\"c-article-you-might-also-like__item\">\n<h3>\n<p>                  EU readies fresh cash for Ukraine\u2019s air defence as Patriot stocks run low<\/p>\n<\/h3>\n<\/div>\n<div class=\"c-article-you-might-also-like__item\">\n<h3>\n<p>                  Brussels says \u20ac90 billion loan for Ukraine is enough for now amid growing doubts<\/p>\n<\/h3>\n<\/div>\n<\/div>\n<div class=\"perf-cv-auto\">\n<ul id=\"adb-article-tags\" class=\"c-tags-list\">\n<li class=\"c-tags-list__item\">\n<section class=\"tc-cta\" data-twig-component=\"Cta-default\">\n  Ukraine<br \/>\n<\/section>\n<\/li>\n<li class=\"c-tags-list__item\">\n<section class=\"tc-cta\" data-twig-component=\"Cta-default\">\n  War in Ukraine<br \/>\n<\/section>\n<\/li>\n<li class=\"c-tags-list__item\">\n<section class=\"tc-cta\" data-twig-component=\"Cta-default\">\n  Sanctions<br \/>\n<\/section>\n<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<aside class=\"o-article-newsy__aside\">\n<div class=\"c-ad-wrapper o-article-newsy__aside__content-1\" data-ad-name=\"adzone-halfpage\">\n<div class=\"c-ad c-ad-halfpage u-show-for-desktop\">\n<div class=\"c-ad__placeholder\"><img loading=\"lazy\" decoding=\"async\" class=\"c-ad__placeholder__logo\" src=\"https:\/\/static.euronews.com\/website\/images\/logos\/logo-euronews-stacked-outlined-72x72-grey-9.svg\" width=\"72\" height=\"72\" alt><span>ADVERTISEMENT<\/span><\/div>\n<\/div>\n<div class=\"c-ad u-show-for-mobile-only\">\n<div class=\"c-ad__placeholder\"><img loading=\"lazy\" decoding=\"async\" class=\"c-ad__placeholder__logo\" src=\"https:\/\/static.euronews.com\/website\/images\/logos\/logo-euronews-stacked-outlined-72x72-grey-9.svg\" width=\"72\" height=\"72\" alt><span>ADVERTISEMENT<\/span><\/div>\n<\/div>\n<\/div>\n<div id=\"adb-article-top-stories\" class=\"perf-cv-auto c-top-stories\">\n<h2 class=\"c-top-stories__title\">Top stories<\/h2>\n<div class=\"c-top-stories__item\">\n<article id=\"abe-2923000-pos2-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2 the-media-object--no-label\" data-nid=\"2923000\" data-cid=\"9900892\" data-part-label=\"Partner content\">\n<figure id=\"abe-2923000-label-pos2-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/90\/08\/92\/320x180_cmsv2_c5dc8e00-6f1e-5c9c-b589-6a045947264b-9900892.jpg\" loading=\"lazy\" alt=\"Mount Tumbledown stands tall behind Stanley on the Falkland Islands, also known as Islas Malvinas, March 16, 2026.\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    UK reaffirms &#8216;unshakeable&#8217; commitment to Falklands after Milei remarks<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<\/div>\n<div class=\"c-top-stories__item\">\n<article id=\"abe-2923033-pos3-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2 the-media-object--no-label\" data-nid=\"2923033\" data-cid=\"9901058\" data-part-label=\"Partner content\">\n<figure id=\"abe-2923033-label-pos3-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/90\/10\/58\/320x180_cmsv2_c269f20a-206f-5ccb-b4d9-8e0fc2da3a10-9901058.jpg\" loading=\"lazy\" alt=\"A firefighter walks among debris at a destroyed pharmaceutical warehouse following Russian drone attacks on the outskirts of Kyiv, 3 September, 2026\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Russia shifts tactics with round-the-clock air strikes on Kyiv<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<\/div>\n<div class=\"c-top-stories__item\">\n<article id=\"abe-2923040-pos4-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2 the-media-object--no-label\" data-nid=\"2923040\" data-cid=\"9901089\" data-part-label=\"Partner content\">\n<figure id=\"abe-2923040-label-pos4-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/90\/10\/89\/320x180_cmsv2_5af5604f-096c-5ad4-b4f1-b9e6b7a35cb2-9901089.jpg\" loading=\"lazy\" alt=\"FILE. US Treasury Secretary Scott Bessent speaks to reporters during a news conference at the conclusion of the G20 Finance Ministerial in North Carolina, 1 Sept. 2026\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    US claims EU joined new Iran sanctions push, yet Brussels only endorsed it<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<\/div>\n<div class=\"c-top-stories__item\">\n<article id=\"abe-2922589-pos5-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2 the-media-object--no-label\" data-nid=\"2922589\" data-cid=\"9898820\" data-part-label=\"Partner content\">\n<figure id=\"abe-2922589-label-pos5-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/53\/36\/91\/320x180_cmsv2_6c178793-bebf-5b52-957a-e2148cd0d607-9533691.jpg\" loading=\"lazy\" alt=\"Over 50% of workers say AI makes them look more experienced than they are\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Workers say AI makes them look more skilled than they are, study finds<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<\/div>\n<div class=\"c-top-stories__item\">\n<article id=\"abe-2923048-pos6-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2 the-media-object--no-label\" data-nid=\"2923048\" data-cid=\"9901133\" data-part-label=\"Partner content\">\n<figure id=\"abe-2923048-label-pos6-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/90\/11\/33\/320x180_cmsv2_ae74bd47-a53b-57f7-947b-9183f6ba19a2-9901133.jpg\" loading=\"lazy\" alt=\"Mid-term elections will take place in November 2026.\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Trump presses Supreme Court to curb postal votes as ballots sent out<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<div class=\"perf-cv-auto c-ad-wrapper o-article-newsy__aside__content-2\" data-ad-name=\"adzone-halfpage\">\n<div class=\"c-ad c-ad-halfpage u-show-for-desktop\">\n<div class=\"c-ad__placeholder\"><img loading=\"lazy\" decoding=\"async\" class=\"c-ad__placeholder__logo\" src=\"https:\/\/static.euronews.com\/website\/images\/logos\/logo-euronews-stacked-outlined-72x72-grey-9.svg\" width=\"72\" height=\"72\" alt><span>ADVERTISEMENT<\/span><\/div>\n<\/div>\n<div class=\"c-ad u-show-for-mobile-only\">\n<div class=\"c-ad__placeholder\"><img loading=\"lazy\" decoding=\"async\" class=\"c-ad__placeholder__logo\" src=\"https:\/\/static.euronews.com\/website\/images\/logos\/logo-euronews-stacked-outlined-72x72-grey-9.svg\" width=\"72\" height=\"72\" alt><span>ADVERTISEMENT<\/span><\/div>\n<\/div>\n<\/div>\n<div class=\"perf-cv-auto c-most-viewed\">\n<h2 class=\"c-most-viewed__title qa-section-title\">Most read<\/h2>\n<div class=\"c-most-viewed__list\">\n<div class=\"c-most-viewed__item\"><span class=\"c-most-viewed__item__number\">1<\/span><\/p>\n<article id=\"abe-2922769-pos1-mostViewed\" class=\"the-media-object m-modeMobile-3 m-modeDesktop-3 m-modeXL-3 the-media-object--has-video the-media-object--no-label\" data-nid=\"2922769\" data-cid=\"9899705\" data-part-label=\"Partner content\">\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Norway seizes Russian ship over Ukraine&#8217;s $4.2bn Crimea claim<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<\/div>\n<div class=\"c-most-viewed__item\"><span class=\"c-most-viewed__item__number\">2<\/span><\/p>\n<article id=\"abe-2922552-pos2-mostViewed\" class=\"the-media-object m-modeMobile-3 m-modeDesktop-3 m-modeXL-3 the-media-object--no-label\" data-nid=\"2922552\" data-cid=\"9898630\" data-part-label=\"Partner content\">\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Netherlands moves 86 tonnes of gold from US and Canada to UK<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<\/div>\n<div class=\"c-most-viewed__item\"><span class=\"c-most-viewed__item__number\">3<\/span><\/p>\n<article id=\"abe-2922768-pos3-mostViewed\" class=\"the-media-object m-modeMobile-3 m-modeDesktop-3 m-modeXL-3 the-media-object--no-label\" data-nid=\"2922768\" data-cid=\"9899704\" data-part-label=\"Partner content\">\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    China demands France scrap fast fashion law targeting Shein and Temu<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<\/div>\n<div class=\"c-most-viewed__item\"><span class=\"c-most-viewed__item__number\">4<\/span><\/p>\n<article id=\"abe-2922578-pos4-mostViewed\" class=\"the-media-object m-modeMobile-3 m-modeDesktop-3 m-modeXL-3 the-media-object--no-label\" data-nid=\"2922578\" data-cid=\"9898768\" data-part-label=\"Partner content\">\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Why so many countries want to join the EU, except Europe\u2019s richest<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<\/div>\n<div class=\"c-most-viewed__item\"><span class=\"c-most-viewed__item__number\">5<\/span><\/p>\n<article id=\"abe-2922523-pos5-mostViewed\" class=\"the-media-object m-modeMobile-3 m-modeDesktop-3 m-modeXL-3 the-media-object--no-label\" data-nid=\"2922523\" data-cid=\"9898540\" data-part-label=\"Partner content\">\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Europe&#8217;s most charitable countries: Where do people give the most?<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"perf-cv-auto c-ad-wrapper o-article-newsy__aside__content-3\" data-ad-name=\"adzone-halfpage\">\n<div class=\"c-ad c-ad-halfpage u-show-for-desktop\">\n<div class=\"c-ad__placeholder\"><img loading=\"lazy\" decoding=\"async\" class=\"c-ad__placeholder__logo\" src=\"https:\/\/static.euronews.com\/website\/images\/logos\/logo-euronews-stacked-outlined-72x72-grey-9.svg\" width=\"72\" height=\"72\" alt><span>ADVERTISEMENT<\/span><\/div>\n<\/div>\n<div class=\"c-ad u-show-for-mobile-only\">\n<div class=\"c-ad__placeholder\"><img loading=\"lazy\" decoding=\"async\" class=\"c-ad__placeholder__logo\" src=\"https:\/\/static.euronews.com\/website\/images\/logos\/logo-euronews-stacked-outlined-72x72-grey-9.svg\" width=\"72\" height=\"72\" alt><span>ADVERTISEMENT<\/span><\/div>\n<\/div>\n<\/div>\n<\/aside>\n<\/div>\n<\/article>\n<article id=\"abe-2923000-pos2-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2 the-media-object--no-label\" data-nid=\"2923000\" data-cid=\"9900892\" data-part-label=\"Partner content\">\n<figure id=\"abe-2923000-label-pos2-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/90\/08\/92\/320x180_cmsv2_c5dc8e00-6f1e-5c9c-b589-6a045947264b-9900892.jpg\" loading=\"lazy\" alt=\"Mount Tumbledown stands tall behind Stanley on the Falkland Islands, also known as Islas Malvinas, March 16, 2026.\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    UK reaffirms &#8216;unshakeable&#8217; commitment to Falklands after Milei remarks<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2923033-pos3-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2 the-media-object--no-label\" data-nid=\"2923033\" data-cid=\"9901058\" data-part-label=\"Partner content\">\n<figure id=\"abe-2923033-label-pos3-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/90\/10\/58\/320x180_cmsv2_c269f20a-206f-5ccb-b4d9-8e0fc2da3a10-9901058.jpg\" loading=\"lazy\" alt=\"A firefighter walks among debris at a destroyed pharmaceutical warehouse following Russian drone attacks on the outskirts of Kyiv, 3 September, 2026\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Russia shifts tactics with round-the-clock air strikes on Kyiv<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2923040-pos4-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2 the-media-object--no-label\" data-nid=\"2923040\" data-cid=\"9901089\" data-part-label=\"Partner content\">\n<figure id=\"abe-2923040-label-pos4-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/90\/10\/89\/320x180_cmsv2_5af5604f-096c-5ad4-b4f1-b9e6b7a35cb2-9901089.jpg\" loading=\"lazy\" alt=\"FILE. US Treasury Secretary Scott Bessent speaks to reporters during a news conference at the conclusion of the G20 Finance Ministerial in North Carolina, 1 Sept. 2026\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    US claims EU joined new Iran sanctions push, yet Brussels only endorsed it<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2922589-pos5-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2 the-media-object--no-label\" data-nid=\"2922589\" data-cid=\"9898820\" data-part-label=\"Partner content\">\n<figure id=\"abe-2922589-label-pos5-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/53\/36\/91\/320x180_cmsv2_6c178793-bebf-5b52-957a-e2148cd0d607-9533691.jpg\" loading=\"lazy\" alt=\"Over 50% of workers say AI makes them look more experienced than they are\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Workers say AI makes them look more skilled than they are, study finds<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2923048-pos6-top-stories\" class=\"the-media-object m-modeMobile-2 m-modeDesktop-2 m-modeXL-2 the-media-object--no-label\" data-nid=\"2923048\" data-cid=\"9901133\" data-part-label=\"Partner content\">\n<figure id=\"abe-2923048-label-pos6-top-stories\" class=\"the-media-object__figure\"><img decoding=\"async\" class=\"the-media-object__image\" src=\"https:\/\/images.euronews.com\/articles\/stories\/09\/90\/11\/33\/320x180_cmsv2_ae74bd47-a53b-57f7-947b-9183f6ba19a2-9901133.jpg\" loading=\"lazy\" alt=\"Mid-term elections will take place in November 2026.\" height=\"9\" width=\"16\"><\/figure>\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Trump presses Supreme Court to curb postal votes as ballots sent out<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2922769-pos1-mostViewed\" class=\"the-media-object m-modeMobile-3 m-modeDesktop-3 m-modeXL-3 the-media-object--has-video the-media-object--no-label\" data-nid=\"2922769\" data-cid=\"9899705\" data-part-label=\"Partner content\">\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Norway seizes Russian ship over Ukraine&#8217;s $4.2bn Crimea claim<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2922552-pos2-mostViewed\" class=\"the-media-object m-modeMobile-3 m-modeDesktop-3 m-modeXL-3 the-media-object--no-label\" data-nid=\"2922552\" data-cid=\"9898630\" data-part-label=\"Partner content\">\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Netherlands moves 86 tonnes of gold from US and Canada to UK<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2922768-pos3-mostViewed\" class=\"the-media-object m-modeMobile-3 m-modeDesktop-3 m-modeXL-3 the-media-object--no-label\" data-nid=\"2922768\" data-cid=\"9899704\" data-part-label=\"Partner content\">\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    China demands France scrap fast fashion law targeting Shein and Temu<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2922578-pos4-mostViewed\" class=\"the-media-object m-modeMobile-3 m-modeDesktop-3 m-modeXL-3 the-media-object--no-label\" data-nid=\"2922578\" data-cid=\"9898768\" data-part-label=\"Partner content\">\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Why so many countries want to join the EU, except Europe\u2019s richest<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<article id=\"abe-2922523-pos5-mostViewed\" class=\"the-media-object m-modeMobile-3 m-modeDesktop-3 m-modeXL-3 the-media-object--no-label\" data-nid=\"2922523\" data-cid=\"9898540\" data-part-label=\"Partner content\">\n<div class=\"the-media-object__content\">\n<h3 class=\"the-media-object__title  \">\n<p>    Europe&#8217;s most charitable countries: Where do people give the most?<br \/>\n  <\/h3>\n<\/div>\n<\/article>\n<div class=\"articleBody\" data-key=\"articleBody\">Ukraine&#8217;s finance minister has warned that the country may have to cut non-military spending unless it can secure funding from its allies, as he urged European ministers to \u201cthink outside the box\u201d as Kyiv faces another winter of Russian escalation.Sergii Marchenko, who has overseen the country&#8217;s finances since 2020, told Euronews Ukraine had not faced such a tight budget situation since the start of the full-scale invasion in 2022.With the focus on military spending and weapons procurement, other areas of the budget could be affected and disbursements delayed unless a solution is found.\u201cWe already see some liquidity issues, and we envisage some shortages in our budget,\u201d he told Europe Today. \u201cIt means we may have to postpone some payments not related to the war because of a lack of liquidity. There will be consequences.\u201dAsked whether this could affect external creditors, Marchenko said it would not.He said, however, that the impact could be felt at the local level, particularly when it comes to building shelters and constructing infrastructure, which he described as \u201cstill important\u201d as the country prepares for another winter of Russian attacks.\u201cWe haven&#8217;t had a situation like this since 2022; we really suffered from the shortage of liquidity. Right now, we are getting far too near to the same scenario we had in 2022.\u201dHe told Euronews that the intensity of Russian attacks on Ukraine had escalated sharply in August. Marchenko said he is working on a new budget on the assumption that the war will continue into 2027, with an estimated funding shortfall of $32.6 billion to be covered. He said the IMF, which visited Kyiv this week, sees similar numbers.\u201cThe war has intensified very quickly. We realise that ourselves. It is a totally different reality compared with last month, with the recent attacks on our logistics. We expect a very hard winter. Escalation means we have to find the means to survive it,\u201d he said.&#8217;Thinking outside of the box&#8217;Ukraine&#8217;s finance minister urged European ministers to think creatively about solutions and consider a new Ukrainian plan to tap into approximately $300 billion of frozen Russian assets. The plan was rejected by EU ministers last December as they struggled to bridge their differences, with a \u20ac90 billion loan jointly financed decided instead.Last week, a group of EU countries led by Sweden revived the plan, arguing that the cost of the war effort must be distributed fairly among European taxpayers. Since President Donald Trump took office, the EU has largely been left alone in footing the bill.Marchenko welcomed the move and said he hoped more countries would rally around it before a scheduled meeting of euro area finance ministers takes place in September.He said the new Ukrainian plan, which would shift custodianship of the assets currently held in Belgium, had introduced \u201ctotally new elements\u201d to mitigate the legal risks for the Belgian government and Euroclear, which holds the assets.\u201cWe want to discuss it; the plan creates new conditions where it is not the responsibility of Belgium to face court disputes with Russia, but the joint responsibility of the 27.\u201dStill, Ukraine and its allies in favour of the plan, including neighbouring Poland, Sweden, the Netherlands and Spain, face an uphill battle to revive the idea.Last December, amid serious concerns from the European Central Bank and strong resistance from key member states Italy and France, the EU shelved a long-fought plan to deploy the frozen assets.Fear Russian retaliation, reputational damage to the euro area, and lengthy legal disputes over possible confiscation claims from Moscow, were cited among the reasons.<\/div>\n<p>[analyse_source url=&#8221;https:\/\/www.euronews.com\/my-europe\/2026\/09\/04\/exclusive-ukraine-finance-chief-warns-of-tightest-budget-since-war-started-ahead-of-very-d&#8221;]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[analyse_image type=&#8221;featured&#8221; src=&#8221;https:\/\/images.euronews.com\/articles\/stories\/09\/90\/05\/77\/1200x675_cmsv2_73ae0399-be98-54be-9925-ce2e70f828cc-9900577.jpg&#8221;] Europe News Euroviews. EU sanctions: a person must never be merely a means to an end Tech News CSIC develops magnetic &#8220;nanoflowers&#8221; to capture and convert water nanoplastics Economy US claims EU joined new Iran sanctions push, yet Brussels only endorsed it Sport Nick Kyrgios handed one-month ban following positive cocaine test [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[90],"tags":[226,36],"class_list":["post-2127550","post","type-post","status-publish","format-standard","hentry","category-international","tag-crawlmanager","tag-euronews-com"],"_links":{"self":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/posts\/2127550","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2127550"}],"version-history":[{"count":0,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/posts\/2127550\/revisions"}],"wp:attachment":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2127550"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2127550"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2127550"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}