Study: Europe is now almost solely financing the Ukraine war, with Germany the largest donor

According to a new study by the Kiel Institute for the World Economy (IfW Kiel), the war in Ukraine is now being financed almost exclusively by Europe.

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Ukrainian President Volodymyr Zelensky during a meeting with the Dutch Minister of Foreign Affairs in Kyiv on October 28, 2025.
According to a new study by the Kiel Institute for the World Economy (IfW Kiel), the war in Ukraine is now being financed almost exclusively by Europe.

The Kiel Institute for the World Economy (IfW Kiel) has published a new study on the scale of support provided to Ukraine in 2025. Since the United States has virtually halted its aid to Kyiv – with assistance from there falling by 99 percent – Europe has essentially become the sole financier of global aid to the country.

The Europeans have provided around €29 billion in military support, significantly more than in previous years (between 2022 and 2024 European military aid averaged around €17–18 billion annually, representing an increase of approximately 67 percent). Financial and humanitarian support has also risen sharply – by 59 percent compared with the average of the years 2022–2024.

Through EU institutions alone, some €35.1 billion flowed into the country in 2025. This accounted for 89 percent of the total European financial and humanitarian assistance (€39 billion).

Germany made the largest contribution, providing around €9 billion in military aid – a 130 percent increase compared with the 2022–2024 period.

Gábor Szűcs is currently an analyst at the 21st Century Institute and a political commentator for Megafon.

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