EditSenior European politicians urge EU to ramp up financial support for Ukraine as war worsens
Despite Europe’s ongoing efforts, support remains insufficient to meet the mounting challenges
The conflict in Ukraine is intensifying, yet its prominence on the global stage is diminishing amidst crises in Iran and other regions. Despite Europe’s ongoing efforts, support remains insufficient to meet the mounting challenges.
Last week, the Yalta European Strategy (YES) Monitoring Board visited Kyiv following another Russian drone attack. The delegation included prominent figures such as Carl Bildt (former Prime Minister of Sweden), Aleksander Kwasniewski (former President of Poland), Sanna Marin (former Prime Minister of Finland), and Kaisa Olongren (former Dutch Minister of Defense). They emphasized that Ukraine remains the frontline of European security.
In an op-ed published in European Pravda, a media partner of EUalive, YES members outlined concrete steps the European Union can take to bolster Ukraine’s defenses and stability. They expressed urgent concern that the situation on the frontlines is deteriorating, with NATO leaders fearing a significant escalation by fall.
A recent Financial Times article highlighted that Russian President Vladimir Putin’s primary objective is the capture of Odessa. Ukraine’s military is stretched thin, risking catastrophic failure without increased military and financial support from its allies.
The stakes for Europe
Russian forces continue their slow, costly advance. While Ukraine’s resilience has been remarkable, it cannot sustain this effort without substantial support. Without increased aid, Ukraine risks losing crucial territory – an outcome with devastating implications for Europe.
The YES delegation warns that a Russian victory would threaten over 500 million Europeans by destabilising the continent through border redrawings and hybrid warfare tactics already causing damage. A win for Russia could embolden direct attacks on NATO and EU member states, leveraging Ukrainian territory and resources as proxies.
A defeat for Ukraine would weaken Europe geopolitically, emboldening radical factions such as Germany’s Alternative for Germany, Britain’s Reform Party, and France’s National Rally – groups opposed to confrontation with Russia. Such shifts could enable Russia to support hostile regimes in Syria and Iran, diverting resources to threaten European stability. Globally, it would signal to democracies that hesitation and inaction are acceptable, exposing Europe to greater vulnerabilities.
The cost of action
Ukraine’s potential for domestic weapons production is estimated at $10–15 billion. An immediate investment of $15 billion could activate this capacity, potentially halting Russian advances as early as this year. Long-term, Europe must commit an additional $30–40 billion annually, beyond the current $40 billion, to sustain military aid and arms procurement.
In total, Europe should aim to allocate around $110–120 billion annually for Ukraine’s defense—roughly 0.6% of the combined NATO GDP ($20 trillion), compared to the current 0.2%. According to YES members, this investment would effectively halt Russia’s military progress and serve as a deterrent against future aggression, while also demonstrating Europe’s willingness to take responsibility for its security.
At the upcoming NATO summit, European nations should commit to a 5% defense spending target and go further to meet Ukraine’s needs. This is about more than Ukraine – it’s about safeguarding Europe’s very future.
Current efforts and remaining gaps
In October 2024, the EU approved a comprehensive financial aid package, including an €18 billion Macro-Financial Assistance (MFA) loan and a Loan Cooperation Facility to help Ukraine repay up to €45 billion in loans from the EU and G7 partners – funded by proceeds from frozen Russian assets. So far, €7 billion of the MFA has been disbursed. Additionally, the EU Facility for Ukraine (2024–2027) offers up to €50 billion for reconstruction and integration efforts, with €25.4 billion already mobilised.
Despite this support, Ukraine faces an estimated $100 billion annual cost to sustain its war effort, with the U.S. contributing nearly $40 billion each year. Europe must bridge this gap by replacing some U.S. support and investing an additional $30–40 billion annually in arms production and procurement.
Some European leaders argue that Europe can handle the crisis independently if U.S. aid diminishes. YES members emphasize that Europe has the capacity to do so, even without tapping into the $200 billion in Russian frozen assets—though some nations oppose this approach.
Investing just 0.6% of NATO’s GDP in Ukraine will not only help stop Russia’s advance but also buy crucial time to expand the European defense industry, implement security guarantees for Ukraine, and accelerate Ukraine’s integration into the EU. Such decisive action would demonstrate that Europe is no longer a passive bystander but a proactive guardian of its own security, Ukraine’s Western supporters insist.
Sources: Reuters and European Commission communication
Caption: Head of the Office of the President of Ukraine Andriy Yermak met with members of the Supervisory Board of the Yalta European Strategy (YES) Forum.Among the attendees were: Aleksander Kwaśniewski, President of Poland (1995–2005); Carl Bildt, Minister for Foreign Affairs of Sweden (2006–2014); Sanna Marin, Prime Minister of Finland (2019–2023); Kajsa Ollongren, Minister of Defense of the Netherlands (2022–2024); Victor Pinchuk, founder of YES, The Presidential Office of Ukraine
Updated: July 2, 2025 - 13:49
