Bloomberg: Ukraine's partners face financial difficulties, threatening arms supply.

Some allies of Ukraine are facing difficulties in securing funding for military aid to Kyiv for 2025, which threatens arms supply. Ukraine is preparing for its third full winter since Russia's 2022 invasion, but its Western allies are slow to fulfill their promises.

Russia's military machine is outpacing Kyiv's ability to obtain the necessary ammunition and equipment to repel attacks. This indicates that Russia's economy is operating in war mode, while Ukraine's allies are not making enough efforts.

Most of Ukraine's funding for 2025 is tied to a G7 agreement to provide loans from profits obtained from frozen assets of the Russian central bank. However, the details of this agreement are still being discussed, and the U.S. is seeking guarantees from Hungary regarding necessary European Union measures. The final amount of aid may be reduced if the agreement is not reached.

Even if the agreement is concluded, $50 billion is still insufficient to support Ukraine for another year of war, and allies will need to seek additional sources of funding.

Meeting with President Joe Biden, Volodymyr Zelensky presented a "victory plan" that depends on security guarantees such as an invitation to join NATO to pressure Vladimir Putin to end the war.

However, efforts to provide aid have been complicated by tensions with Republican candidate Donald Trump, who suggested Ukraine should make a deal with Moscow. These challenges are exacerbated by funding shortfalls, which could hit Ukraine hard.

The Ukrainian government is forecasting a budget deficit of 19% of GDP in 2025, which requires about $35 billion to fill this gap. Most of this amount is expected to come from IMF and EU aid, leaving approximately $15 billion to be found additionally.

Ukraine's European allies also face their own fiscal constraints, complicating the situation. Announcing aid in the form of new military assistance from Biden and a meeting of key allies could help Ukraine cope with these issues.