Zelensky tells EU leaders Ukraine needs at least €70 billion more
Volodymyr Zelensky told European leaders at the EU summit that the war will cost 155 billion next year and that Kyiv needs at least 70 billion euros more from the bloc.
- 01Zelensky told EU leaders the war will cost 155 billion next year.
- 02He said Ukraine needs at least 70 billion euros more from the European Union.
- 03The remarks were made in an address to leaders at the EU summit.
- 04The funding is aimed at defending Ukraine against Russia.
Ukrainian President Volodymyr Zelensky asked EU leaders for at least 70 billion euros more, a request tied to Zelensky's EU 70 billion euros appeal for next year. In his address at the summit he said the war will cost 155 billion next year.
What happened
Speaking to European leaders at the EU summit, Zelensky put a figure on Ukraine's needs. "The war next year will cost 155 billion. We need at least another 70 billion euros from you," he said, in the context of defending Ukraine from Russia.
The remarks were directed at the European Union as a whole, and frame the request as additional to what the bloc already provides.
Why it matters
The statement sets out the scale of the funding question facing Europe: Kyiv's own estimate of the cost of the war for next year, and the share it asks the EU to cover. It puts EU financial aid to Ukraine at the center of the leaders' agenda and links the issue directly to Ukraine's defense against Russia.
What the figures say
According to Zelensky, the total cost is 155 billion, and the minimum extra contribution requested from the EU is 70 billion euros. The currency of the 155 billion figure was not specified in his remarks as relayed. No breakdown between weapons, budget support and other needs is given here.
Currency angle
The EUR/UAH exchange rate is one of the pairs linked to European support for Ukraine, as financing flows are denominated in euros while Ukraine's domestic spending is in hryvnia. No move in the pair is implied by the speech.
What to watch next
- How EU leaders respond to the request, and whether the summit conclusions refer to a figure for next year.
- Whether member states specify the form of any new support, such as loans or grants, and over what period.
- Any clarification from Kyiv on how the 155 billion estimate is built and how much is already covered.
- Russia's reaction and developments on the battlefield, which bear on Ukraine's stated needs.
The outcome of the leaders' discussions will indicate how far the bloc is prepared to go toward the 70 billion euros Zelensky says is needed.
UCapital Asset Management LLP or group companies may have commercial relationships with the companies mentioned. This content is not financial advice.
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