Ukraine will need over $120 billion for its defense in 2026 as the war with Russia continues into its fourth year, according to Defence Minister Denys Shmyhal. This funding is crucial for maintaining defense lines, producing more weapons, and deterring further Russian aggression. Shmyhal highlighted that spending less than Russia could lead to losing territory and lives.
Since Russia’s invasion in February 2022, Ukraine’s defense spending has increased significantly, now accounting for over 31% of its gross domestic product, with this year’s budget planning at least $63 billion in defense spending, along with support from Western allies. Roksolana Pidlasa, head of the parliamentary budget committee, noted that the war’s costs are rising, with daily expenses increasing from $140 million in 2024 to $172 million in 2025.
Ukrainian officials are seeking new funding sources, including using Russian frozen assets. Recent weeks have seen heightened fighting along the frontline, and diplomatic efforts to resolve the conflict have not produced results. Pidlasa emphasized the need for financial resources to continue the fight until a diplomatic solution is found.
With information from Reuters
