In 2027, the cost of the war will rise to €155bn, meaning Ukraine’s need for financial assistance will reach €70bn.
President Volodymyr Zelenskyy said this at a meeting of the European Council.
“Putin has now structured the federal budget to spend even more money on his war. We must counter this. And we know how to do it with technology. It costs far less and helps to stop his operations against Ukraine and against you. Next year the war will cost €155bn. And we need at least an additional €70bn from you — for defence, for weapons and for our resilience,” the head of state said.
The President noted that Ukraine is stopping most Russian assaults on the front line thanks to drones.
“We are cutting Russian supply routes using these technologies. And our drones are helping to weaken the Russian economy. Right now we could double or triple drone production — depending on the type. But we simply do not have enough money for it. That is the truth. Just imagine if we could put two to three times more pressure on Russia than we do today. Please invest in defence, in our factories in Ukraine and, of course, in our joint production of drones and other weapons in your countries,” Zelenskyy urged partners.
Among the sources of support, he cited, in particular, frozen Russian assets.
“We must ensure that all these assets — in full — are protected and that they can genuinely be used. And believe me: if Europe does not take this step — and this is precisely about security — Putin will find a way to get his hands on this money. And then, of course, he will use these assets to finance his war against us and his operations against you,” Zelenskyy stressed.
He suggested, as one option, creating a special depository under EU control to reduce the risk of Russian assets being unfrozen and distributed among those who “clearly do not wish Europe well and do not want this war to end”.