Zelenskyy states that the war's first year has accumulated nearly $120 billion in costs, with roughly half needing to be sourced from external resources.
Ukraine Faces Massive War Costs, President Zelenskyy Warns
In a press conference with European Parliament President Roberta Metsola, Ukrainian President Volodymyr Zelenskyy addressed the significant financial challenges posed by the ongoing war.
President Zelenskyy stated that the cost of the war as of now is a challenge for Ukraine, with an estimated cost of US$120 billion for one year. Sixty billion dollars of this amount will come from the Ukrainian budget, and he emphasized the need to find an additional 60 billion dollars for the war costs in 2023. However, he did not specify where this additional funding would come from or provide any new information about the budget allocation for the war costs in 2023.
The President reiterated that ending the war remains a top priority for Ukraine. He also noted that the war cost for 10 years could potentially reach such large sums of money, emphasizing the scale of the financial challenge.
President Zelenskyy also referred to a plan B of US$120 billion for the war costs in 2023, but he did not provide any further details about this plan. He clarified that these large sums of money will not be needed during peacetime.
In addition, President Zelenskyy did not provide any new information about his meeting with European Parliament President Roberta Metsola or discuss any specific topics related to international diplomacy.
Meanwhile, in Finland, former President Alexander Stubb, who was elected as Finland's 13th president in spring 2024, has been active in international diplomacy involving Russia and Ukraine. No prior context was provided regarding any possible threats Stubb may have faced from Russia.
As the war continues, President Zelenskyy's statements highlight the significant financial burden Ukraine faces and the need to secure additional funding to continue the fight against Russian aggression.
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