Each Russian attack on Kyiv costs the city budget about $12 million. Russian strikes have already damaged more than four thousand buildings in the capital, Mayor Vitali Klitschko said in answer to a Novyny.LIVE journalist.

Russian forces now strike Kyiv with ballistic and cruise missiles or drones on average almost twice a week. The latest massed attack, on the night of 20 August, killed at least 16 people in Kyiv and the region.

The cumulative damage keeps growing

The toll on the city's housing is vast. More than four thousand buildings in Kyiv have been damaged by Russian strikes, Klitschko continued, with each attack adding to a repair bill the city carries alongside the human losses.

New shelters are planned, but old money went unspent

Kyiv plans to expand its shelter network. By the end of 2026, the city intends to install new mobile shelters, placed first in districts and locations that lack other accessible cover, Klitschko stated.

The plan follows a failure that the mayor acknowledged. Last year, Kyiv allocated $12 million for mobile shelters, but the district administrations did not use the money. It was returned to the city budget.

The capital also still lacks enough professional bomb shelters capable of better protecting people during missile strikes, he added. This gap persists as tens of thousands of Kyiv residents shelter in metro stations through the attacks.

The city is building a backup heating system

Meanwhile, Kyiv is preparing for winter under fire. The city has completed more than 50% of planned work to create a backup heating system, with readiness at some sites already reaching 90%, the Kyiv mayor added.

Russia has struck Ukraine's energy and heating infrastructure each winter of the war. A backup system is Kyiv's insurance that a successful strike on one heat source does not leave districts frozen, part of the same preparation for the heating season that Ukraine's government is racing to complete nationally before the cold.

The European Commission is discussing with EU member states various options to cover Ukraine's budget deficit for next year, which could range from $8 billion to $19 billion, the Financial Times reported on July 8.

International partners have provided Ukraine with over $39 billion for its wartime economy so far this year, Prime Minister Denys Shmyhal announced.

The financial hole in Ukraine's budget is linked to reduced U.S. support and the lack of prospects for a swift ceasefire with Russia that Europe had hoped for, the Financial Times reported.

A senior EU official told the publication that many of Ukraine's partners had previously counted on a peace deal in 2025, but are now forced to revise their funding plans.

This includes the European Commission, which has already adjusted spending from Ukraine-related funding streams.

Without support from Western partners, Kyiv would face a budget deficit of $19 billion in 2026, according to the Financial Times. However, even if additional international financing for the wartime economy can be secured, a gap of at least $8 billion would remain.

To support Ukraine's budget, Europe is considering providing military aid in the form of off-budget grants that would be recorded separately as external transfers but would count toward NATO member countries' national defense spending targets.

One EU diplomat told the Financial Times that military support for Ukraine is viewed as a contribution to the defense of all of Europe.

In a document for G7 countries reviewed by Financial Times, Kyiv proposed that European allies co-finance Ukrainian forces, framing this as a service to strengthen continental security.

Other support options under discussion include potentially accelerating payments from the existing $50 billion G7 loan program and reinvesting frozen Russian assets in higher-yield financial instruments that the EU allocated to help service the debt.

According to the Financial Times, two sources confirmed that the commission planned to discuss these options with EU finance ministers on July 8.

The funding issue will also be raised at the Ukraine Recovery Conference in Rome on July 10-11, dedicated to Ukraine's reconstruction needs. European Commission President Ursula von der Leyen will attend the event.