Ukraine Demands 70 Billion More Despite 90 Billion EU Loan Announced Six Months Ago
"According to some reports that I've seen, the demands that the Ukrainians are making and which they will be presenting in Anchora are for 70 billion euros or maybe even dollars more. I'm not sure which it is. So almost as much. Well, maybe not quite as much, but still an awful lot on top of the 90 billion euros that was earmarked for them in December 2025."
About this episode
Alexander Mercouris delivers a comprehensive analysis of deteriorating Western positions in the Ukraine conflict and US-Russia negotiations as of July 5, 2026. The episode centers on two major developments: the confirmed Russian capture of Konstantinovka, a key fortified city guarding the Slavyansk-Kramatorsk urban area in Donbass, and a contentious 85-minute late-night phone call between Putin and Trump on July 4th in which Putin refused to receive US peace envoys until Washington accepts Russia's maximalist Istanbul-plus settlement terms. Mercouris argues Western media is deliberately downplaying Konstantinovka's strategic significance while emphasizing Ukrainian drone strikes that are proving increasingly ineffective against improved Russian air defenses. He reveals that despite receiving a 90 billion euro EU loan in December 2025 meant to last two years, Ukraine is already demanding an additional 70 billion at the NATO summit in Ankara. The analyst highlights emerging reports of an alleged Israeli plot to assassinate Iranian negotiators during US-Iran peace talks in Pakistan, which the US government allegedly prevented. Mercouris warns that Europe and Ukraine face critical natural gas shortages heading into winter, with Ukrainian reserves at only half normal levels and European storage at the lowest point since 2015. He predicts these energy crises, combined with continued Russian military advances and the failure of Ukraine's 40-day drone escalation campaign ordered by Zelenskyy, suggest the West has squandered its last opportunity for a face-saving negotiated settlement and is heading toward catastrophic defeat.
Key takeaways
- Putin rejected Trump's peace envoys Witkoff and Kushner during a contentious 85-minute call, insisting on Russia's Istanbul-plus maximalist terms before any negotiations resume.
- Russian forces captured the strategic fortress city of Konstantinovka and are pushing into Druzhkivka, opening a potential gateway to encircle Ukrainian forces in the Slavyansk-Kramatorsk urban area.
- Ukraine is demanding an additional 70 billion euros or dollars at the NATO Ankara summit despite receiving 90 billion euros from the EU just six months ago that was supposed to last two years.
- Reports allege Israel planned to intercept and destroy the aircraft carrying Iranian negotiators to US-Iran peace talks in Pakistan, with the US government intervening to prevent the attack.
- Ukrainian drone offensive using hundreds of drones since mid-June has proven increasingly ineffective as Russian air defenses have significantly improved, undermining Zelenskyy's 40-day pressure campaign.
- Europe and Ukraine face critical natural gas shortages heading into winter, with Ukrainian reserves at half normal levels and European storage at the lowest point since 2015.
- Western media is systematically downplaying Russian territorial gains while emphasizing Ukrainian drone strikes in what Mercouris characterizes as denial of deteriorating Ukrainian battlefield positions.