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Ukraine Estimates Another Year Of War With Russia At $120 Bln

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Ukraine Estimates Another Year Of War With Russia At $120 Bln

Kiev hopes to attract $60 billion of that with the help of its EU and NATO allies.

Ukraine will need at least $120 billion for military needs in 2026, Ukrainian Defense Minister Denis Shmygal said on Tuesday. Kiev hopes to raise $60 billion of this amount with the help of its EU and NATO allies, the minister said in a statement on his Telegram channel.

"We are working with other countries to raise half of this amount with the support of allies," Shmygal wrote. According to him, negotiations with Western partners are at a "substantive" stage.

The minister stressed Ukraine's readiness to "share with partners its unique combat experience, technologies and innovations," including Kiev offering allies the creation of joint ventures, transfer of licenses and opening of production facilities in partner countries. "In wartime, such products will be used for the needs of the Armed Forces of Ukraine, and in the long term will strengthen the positions of our partners," Shmygal noted.

He also emphasized the need for additional financial investments in the development of Ukraine's military industry, especially in the production of FPV drones, long-range drones and interception systems.

In late June, Shmygal's predecessor as head of the Ukrainian Defense Ministry, Rustem Umerov, said that Ukraine was preparing to dramatically increase the number of strikes against Russia using long-range drones. According to him, this will involve "tens of thousands" of such UAVs, which will target Russian military facilities. In total, the AFU will receive more than 4 million drones in 2025, which will be manufactured by Ukrainian companies, Umerov claimed.

Last week, the head of the European Commission (EC), Ursula von der Leyen, reported that the current €50 billion aid fund for Ukraine, included in the revised EU budget until 2027, is gradually drying up. In this regard, she said, the EC has set aside 100 billion euros to support Kiev (1.26% of the total EU budget) in the draft of the new long-term EU budget for 2028-2034.

Funds in the form of grants and loans are sent to the country through the Ukraine Facility, a special financial instrument created by the EU to support Ukraine during the war and in the post-war period. This aid is used for macro-financial assistance, reconstruction, reforms and modernization of the country.

Since the start of the all-out war, the EU has already provided Ukraine with almost 160 billion euros, including the said 50 billion under the Ukraine Facility. In 2025, EU states have promised Kiev additional military aid worth 23 billion euros, and also provided loans worth 30 billion euros, secured by frozen Russian assets.

Military and financial aid to Ukraine is also provided by other countries. In particular, Australian Defense Minister Richard Marles reported on Saturday that Kiev has already received most of the 49 M1A1 Abrams tanks that Canberra gave to Ukraine as part of a $160 million aid package to defend against Russian aggression.

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