Ukraine's President, Selenskyy, assesses annual financial requirements exceeding 55 billion euros
Ukraine has been defending itself against a Russian invasion for over three years, and the financial burden has been substantial. President Volodymyr Zelensky estimates that Ukraine's annual financial needs, due to the ongoing conflict, exceed 55 billion euros. Over 35 billion euros, more than half of Ukraine's state budget, is already being funded by foreign aid.
European countries have provided approximately €132 billion in aid encompassing military, financial, and humanitarian support as of December 2024. The United States has contributed about €114 billion in similar aid by the same time. Specific national contributions from countries like Denmark, Estonia, and Sweden include billions in military support and purchases of equipment such as artillery shells, armored vehicles, missiles, drones, and air defense systems.
The European Union has committed €11.1 billion through the European Peace Facility (EPF) for military support, including €5 billion specifically designated for a Ukraine Assistance Fund agreed in March 2024. NATO allies have also agreed on a “minimum baseline funding of €40 billion within the next year” to support Ukraine’s military capabilities, coordinated with the US-led Ukraine Defense Contact Group.
In July 2025, the U.S. State Department approved a $180 million Foreign Military Sale for Ukraine to sustain and refurbish existing U.S.-origin air defense systems, including training, spare parts, and technical support to enhance Ukraine’s air defense capabilities.
President Zelensky has appealed to Western allies to directly fund Ukraine’s arms industry to scale up production of critical indigenous defense capabilities like drones, which have become strategically important. He specifically cited Denmark’s example of funding arms production directly as a model for other allies to follow.
G7 countries and EU member states have also agreed on proposals to use profits from sanctioned Russian assets to finance military assistance to Ukraine, indicating an innovative approach to ensuring sustained funding.
Zelensky aims to have foreign funding cover the salaries of Ukrainian soldiers, with soldiers in combat receiving around 2,400 euros gross salary. By 2025, around 26 billion euros of foreign funds have already flowed into Ukraine, according to the Finance Ministry in Kyiv.
President Zelensky has discussed Ukraine's financial needs with the President of the European Council António Costa, President of the EU Commission Ursula von der Leyen, the USA, NATO Secretary General Mark Rutte, French President Emmanuel Macron, and British Prime Minister Keir Starmer.
The production of Ukrainian drones requires an immediate investment of approximately 25 billion USD. With the ongoing support from Western allies, Ukraine hopes to strengthen its defense capabilities and contribute to the security of all of Europe. The Ukrainian government needs to close a deficit of approximately 40 billion USD, and the low-tax system in place aims to attract foreign investment and support the growth of the domestic arms manufacturing industry.
- The Ukrainian government is seeking foreign funding to directly support the salaries of its soldiers, with a gross salary of around 2,400 euros for combat soldiers, as President Zelensky appeals to Western allies for additional financial aid.
- President Zelensky has discussed Ukraine's financial needs with various world leaders, including the President of the European Council António Costa, the President of the EU Commission Ursula von der Leyen, and several heads of state from the USA, NATO, France, and Britain.
- To bolster its defense capabilities in a cost-effective manner, Ukraine aims to close a deficit of approximately 40 billion USD by attracting foreign investment, leveraging a low-tax system to support the growth of its domestic arms manufacturing industry, and scaling up production of indigenous defense capabilities such as drones.
