RT | October 26, 2026

The EU faces a growing budget squeeze after borrowing hundreds of billions for pandemic recovery and Ukraine. Rising repayment costs threaten future spending and rushed payouts raise fraud risks, its chief auditor has warned. Brussels is nevertheless seeking billions more for Kiev.

Speaking to Rapporteur, Tony Murphy, president of the European Court of Auditors, described the budget situation as a “pressure cooker,” with EU debt potentially reaching €1 trillion (1.12 trillion) by the end of 2027. The bloc’s debt stood at €739 billion (825 billion) in 2025, up from €601 billion ($671 billion) a year earlier.

“You have to pay it back at some time. It’s not free money,” Murphy said. He emphasized that “it’s real money that has to be paid back.”

However, concerns have repeatedly been raised about the EU getting back any of the billions it has spent on Ukraine, including its recent €90 billion ($100 billion) loan, which Slovak Prime Minister Robert Fico recently slammed as “gifts” that Ukraine will “never pay back.”

Kiev is required to repay the loan only after receiving Russian reparations – something Moscow has vehemently ruled out. Ukraine’s own former Prime Minister Nikolay Azarov has also acknowledged that such scenarios are “just fairy tales” and that Brussels will never get its money back, which is being actively embezzled by Kiev.

The EU, however, must still repay the money it borrowed. According to Murphy, servicing pandemic debt alone would consume 8% of the bloc’s proposed 2028–2034 budget and governments have yet to agree on new revenue to cover the repayments, leaving Brussels with less money for other priorities.

The squeeze comes as households and businesses continue to face high energy costs following Europe’s break with Russian supplies, compounded by the US-Israeli war on Iran.

Murphy also warned about how quickly money is being spent. He called the requirement to process €90 billion in remaining pandemic recovery payments by December “crazy,” describing the impending payouts as a “tsunami.”

Pressure to meet deadlines could also encourage weaker checks and more abuse, he said, as European prosecutors are already investigating hundreds of suspected fraud cases involving recovery funds.

Despite the crisis, Brussels is again looking for more money for Kiev after Vladimir Zelensky requested another €70 billion ($78 billion) for 2027, beyond existing commitments. European Council President Antonio Costa said Friday that the EU expects to cover roughly two-thirds, with a decision potentially coming in November.

By Finian Cunningham | Strategic Culture Foundation | October 26, 2026

South Korea is rebelling against U.S. dominance. It is witnessing a formidable opposition movement against the United States’ historic control over the Asian country’s military forces.

There is also growing pressure on the South Korean government to refuse demands by U.S. President Donald Trump for Korean troops to deploy in the Persian Gulf.

A major driver of this surging opposition movement is the widely held concern that Washington is maneuvering South Korea to fight a war with China.

Political analyst KJ Noh explains that the Korean people perceive the United States as positioning their country as a proxy to fight an eventual war with China, in a similar way to how Ukraine is being used as a front line to provoke Russia.

“The U.S. empire is making South Korea into the next Ukraine,” says KJ Noh. “It is weaponizing South Korea.”

This is analogous to how Ukraine was groomed and weaponized since 2014 to serve as a proxy for the U.S. and NATO to confront Russia.

He points out that China has always been the main target for American imperial planners seeking to extend U.S. hegemony. Pentagon Generals have openly spoken about going to war with China since 2025. Several strategic documents cite the imperative of confronting China for the U.S. to pursue its ambitions of global dominance.

Recently, the American commander in South Korea, General Xavier Brunson, referred to the country as “a dagger pointed at China” and “an unsinkable U.S. aircraft carrier.” Such brazen comments have sparked even broader opposition.

KJ Noh contends that U.S. strategists assumed defeating Russia and Iran would be relatively easy, paving the way for the main target: China. However, the protracted war in Ukraine and Trump’s debacle in the Persian Gulf have delayed the war plan against China.

Nevertheless, Korean people understand that when the U.S. empire gets around to attacking China, their country will be deployed as Uncle Sam’s proxy.

Historically, for the past 76 years, Washington has exerted full control over the South Korean military. This was enabled by the U.S. using fascist collaborators from the Second World War to control South Korea – a legacy that persists among the deep state in South Korea.

KJ Noh surveys a history of genocidal violence perpetrated by the U.S. empire in South Korea to wipe out political opposition movements. The scale of mass murder and mass graves is shocking and hardly known in the West.

Despite the brutal oppression over many decades, there is still a defiant consciousness among Koreans who refuse to be vassals of the U.S.

Koreans do not want to do Uncle Sam’s dirty work any longer, and they do not want their country to be dragooned into a proxy war against their Asian neighbor, China, with which much of the Korean economy has beneficial relations.

This is why Koreans are demanding that the United States finally hand over Operational Control of the country’s military. President Lee Jae-myung reflects the popular will by calling on Washington to comply. It is also why the Korean people and government are refusing Trump’s peevish calls for deployment in the Persian Gulf. Given the history of loyal Korean service in U.S. wars, this latest defiance is a watershed in relations.