Defense Minister Denys Shmyhal called on partners to invest 0.25% of GDP in Ukraine's defense. Kyiv needs help covering half of the $120 billion needed to finance military needs. He said this during a meeting of the Contact Group on Ukraine's Defense ("Ramstein"), UNN reports.
Details
Shmyhal said that Ukraine needs help to cover military needs.
I would like to add a few words regarding our overall defense needs for 2026. We estimate them at $120 billion. Ukraine will cover half of the $60 billion from our national resources. We ask you to join us in covering the other half. The most effective way to meet this need is for our European and non-European partners to allocate at least 0.25% of their GDP to military support for Ukraine.
He also proposed another option for support.
If the $60 billion target is unattainable for Europe and for non-European partners, then the only remaining solution is a loan secured by frozen Russian assets so that it can be used to finance the Ukrainian armed forces and meet their needs. Why is this important for all of us? Because together we are striving for a new European defense architecture, and the Ukrainian army today is the most experienced and combat-ready in Europe.
Addition
President Volodymyr Zelenskyy reported that in 2026, Ukraine must spend $120 billion on defense. $60 billion will come from the Ukrainian budget, and another $60 billion I need to find for next year.
Bloomberg reported that the European Union is increasingly convinced that using about 200 billion euros of frozen Russian central bank assets is the only viable way to provide stable funding for Ukraine. This is due to other sources of funding running out.