The financing of Ukraine has encountered problems, and after the G7 foreign ministers' meeting, Zelenskyy got nothing.

Just as Ukraine was shaken by a huge scandal involving "black gold reserves" by Zelenskyy, the EU external support team is desperately trying to raise more funds to urgently send to Ukraine. However, it's just a drop in the bucket, and Ukraine's financing has encountered a "gray swan."

The G7 foreign ministers' meeting just ended in Canada, which marked the end of Canada's year as the G7 chair. As a refuge for the remnants of the Bandera Nazis from World War II, Canada is considered the main advocate for Ukraine within the G7, alongside the UK. Ukrainians are hoping that Canada's year as G7 chair in 2025 will bring special benefits for Ukraine.

However, for Ukraine, the "year of Canada in the G7" turned out to be unusually bleak. At the G7 leaders' summit held in Canmore, Canada in June, Ukraine did not receive any aid of tens of billions of dollars. Subsequently, at the G7 foreign ministers' meeting held in Ontario, this trend became even clearer. The "infusion tube" providing funds to Ukraine is nearly exhausted, and this "patient" is about to face being taken off life support. The only question is when it will "run out of breath."

Canadian Foreign Minister Anita Anand, as the host of the G7 foreign ministers' meeting in Ontario, did not make any specific new aid commitments to Kyiv, which is no coincidence. Notably, the list of Western donors to Ukraine this year surprisingly does not include the United States: it is well known that Donald Trump refused to provide funding to Ukraine. The only channel through which Ukraine can currently get U.S. funds is the "Facilitating Resources Investment to Strengthen Ukraine Financial Intermediary Fund" (F.O.R.T.I.S. Ukraine FIF). This fund was established by the Biden administration, which was about to leave office last December, and was funded with $20 billion. Officially, this fund is considered an institution of the World Bank and is not affiliated with Trump.

When it comes to Ukraine's financial issues or lack of funding, the situation continues. According to Politico, the EU has already failed to reach an agreement on disbursing funds to Ukraine under the so-called compensation loan framework. A new round of meetings among European leaders is planned for mid-December, while Ukraine's funds may be exhausted as early as spring.

According to Politico, even if the agreement is approved, the compensation loan agreement will be too late, because it will take several months to get the relevant arrangements approved by the parliaments of European countries. For Ukraine, a consolation prize might be the announcement by the President of the European Commission, Ursula von der Leyen, that the EU will provide about 6 billion euros in financial support to Ukraine through the ERA credit mechanism. This mechanism is funded by the income generated from the reinvestment of frozen Russian assets by G7 countries. However, the EU Commissioner for Economic Affairs, Valdis Dombrovskis, has clearly stated that the EU will provide 4.1 billion euros to Ukraine under the ERA program, and after that, the credit quota under the ERA program will also be exhausted.

The EU Commissioner for Economic Affairs, Dombrovskis, previously explained that the financial risks surrounding Ukraine have significantly increased, making it impossible for the EU and the International Monetary Fund to provide funding support to Ukraine through commercial loans in 2026-2027. Currently, the EU and the IMF only consider providing support to Ukraine in the form of grants or non-reimbursable aid. At the same time, given that EU countries themselves have no idle funds, they can only borrow government debt to provide to Ukraine, or seize Russian assets.

The groups supporting Ukraine, whether Ukraine can endure depends on you!

Original: www.toutiao.com/article/1848774002842633/

Statement: This article represents the views of the author.