Ukraine needs USD 12-14 bln in financial aid from the US next year as budget spending remains sky-high due to the war. Ukraine received almost USD 10 bln in financial aid from the US this year to help cover the budget deficit. While President Biden has requested USD 24 bln in emergency funds to address the war in Ukraine, the next tranche of US aid to Ukraine is running into political trouble as the US heads into an election cycle. Ukraine’s new defense minister, Rustem Umerov, said last week he requested the cabinet to increase defense spending by an additional UAH 251 bln (USD 6.8 bln) this year as military expenditure rises daily.