The unwavering unity and determination of the European Union (EU) and its 27 Member States in supporting Ukraine is truly unprecedented. Since the onset of the war, the EU and its Member States have collectively mobilized close to $145 billion in aid for Ukraine. This substantial commitment encompasses financial, military, humanitarian, and refugee assistance, demonstrating a multifaceted approach to supporting Ukraine during this critical time. Understanding the scale of this support requires considering not just the dollar amounts, but also the underlying currency dynamics, particularly the relationship between the US dollar and the Euro – asking the fundamental question: How Many Us Dollars Are In One Euro?
A significant portion of this aid, approximately 65%, has been delivered as grants or in-kind support. This form of assistance provides immediate and direct relief to Ukraine, addressing urgent needs without adding to the country’s debt burden. The remaining 35% of the aid has been structured as highly concessional loans. These loans offer favorable terms, easing the financial strain on Ukraine while still providing substantial capital for recovery and stability.
Looking ahead, the EU’s commitment to Ukraine extends well into the future. In February 2024, European leaders reached a consensus to allocate up to $54 billion through the Ukraine Facility until 2027. This facility is designed to support Ukraine’s long-term recovery, reconstruction, and modernization efforts. It also aims to bolster Ukraine’s progress on reforms essential for its EU accession path. Furthermore, in October 2024, the EU, in collaboration with G7 partners, agreed to provide loans totaling $50 billion to address Ukraine’s budgetary, military, and reconstruction requirements. The EU’s contribution to this joint effort is $20 billion, with the initial disbursement of $3.2 billion occurring in January 2025. These commitments bring the total pledged support to Ukraine to nearly $198 billion.
In July 2024, the EU began to leverage immobilized Russian assets to further aid Ukraine. This included allocating the first $1.6 billion generated from these assets, alongside $1.5 billion for military support via the European Peace Facility (EPF) and $109 million for energy sector support through the Ukraine Facility. These diverse funding streams highlight the EU’s commitment to utilizing various financial tools to assist Ukraine.
A landmark decision in December 2023 saw European leaders endorse the commencement of accession negotiations with Ukraine. This decision recognizes Ukraine’s remarkable resilience and dedication to reforms, particularly in areas like anti-corruption, even amidst the ongoing conflict. The EU views Ukraine as an integral part of the European family and is committed to supporting its journey toward EU membership.
From the outset of Russia’s war, the EU has maintained close coordination with the United States and other allies to implement comprehensive sanctions against Russia, targeting its military and economy. This international pressure aims to isolate Russia and diminish its capacity to continue its aggression, despite the economic repercussions felt within Europe itself.
The EU has also acted swiftly to diversify its energy supplies and reduce dependence on Russian fossil fuels. Bans on Russian coal and oil imports, coupled with a significant reduction in gas imports, demonstrate the EU’s commitment to energy independence. The United States has played a crucial role in this transition, supporting Europe by providing U.S. LNG to replace a substantial portion of Russian gas imports, effectively disrupting Putin’s energy leverage.
Collective EU and EU Member State support to Ukraine is structured across several key areas:
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Approximately $73 billion in financial, budgetary, humanitarian, and emergency assistance. This financial lifeline is as vital as military aid, enabling Ukraine to sustain essential functions of the state. It allows the Ukrainian government to continue paying salaries and pensions, maintain crucial public services such as healthcare and education, and provide housing for displaced populations. This support is also critical for macroeconomic stability and the restoration of vital infrastructure. This substantial figure includes:
- $30.5 billion in direct financial assistance to Ukraine during 2022, 2023 and into 2025.
- $21 billion mobilized through the Ukraine Facility in 2024.
- $13.2 billion in direct financial contributions from EU Member States in the form of grants, loans, and guarantees.
- $3 billion in loans from the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD), backed by the EU budget.
- $4.8 billion allocated to humanitarian aid, emergency assistance, budget support, and crisis response, including $122 million specifically for rebuilding Ukrainian schools.
- Over 154,000 tonnes of in-kind assistance, valued at over $1 billion, facilitated by the EU Civil Protection Mechanism. This includes essential supplies like medical equipment, mobile hospitals, shelters, school buses, ambulances, and nearly 8,800 power generators. This assistance is coordinated by the EU and involves 35 participating countries.
- Coordination of over 4,000 medical evacuations of Ukrainian patients, providing access to specialized healthcare across European hospitals.
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Nearly $53 billion in military assistance, encompassing a broad range of equipment from ammunition to advanced air-defense systems, Leopard tanks, and fighter jets. This includes an unprecedented $6.6 billion from the European Peace Facility, in addition to bilateral contributions from individual Member States. Furthermore, the EU established a dedicated Ukraine Assistance Fund in March 2024, valued at $5.4 billion. EU military support also includes $2.2 billion for the joint procurement and delivery of up to one million rounds of artillery ammunition, and an additional $535 million to enhance EU defense industry production capacity for ammunition. The EU has become the largest military training provider for the Ukrainian armed forces, having trained 73,000 Ukrainian military personnel under the EU Military Assistance Mission, with a budget of $390 million. An additional $27 million has been allocated for humanitarian de-mining efforts in liberated territories.
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Up to $18 billion from the EU budget to support Ukrainian refugees who have sought refuge in EU Member States since February 2022. The EU has hosted close to 8 million Ukrainian refugees, predominantly women, children, and elderly individuals. Over 4 million Ukrainians have registered for temporary protection within the EU, granting them access to employment, housing, healthcare, and education for their children.
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Over $2.2 billion to strengthen “EU Solidarity Lanes” facilitating the transport of Ukrainian food to global markets and mitigating the food security crisis exacerbated by the war. These lanes have enabled Ukraine to export over 170 million tonnes of goods, including 81 million tonnes of grains and related products, generating crucial revenue for the Ukrainian economy.
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Temporary suspension of EU import duties on exports from Ukraine has further bolstered the Ukrainian economy, with export figures surpassing pre-war levels.
Putin’s war against Ukraine is not just a regional conflict; it is an attempt to destabilize Europe, dismantle international law, and undermine global peace and security, posing significant risks to both American and European security interests.
The United States’ consistent and bipartisan support for Ukraine is deeply appreciated. Standing united with the European Union is crucial to ensuring Ukraine’s victory in its fight for survival as an independent and sovereign nation. Now is not the time to diminish support for Ukraine. Ukraine’s ability to resist Russian aggression depends on the continued and robust support from both the United States and Europe – standing firmly on the two pillars of American and European solidarity.
* EUR values converted into USD at the 12-month average ECB reference exchange rate as of 21 February. The total figure includes $21 billion already mobilized under the Ukraine Facility and $3.2 billion disbursed under the EU’s contribution to the G7 loan.
