Ukraine Seeks $120 Billion for 2026 Defence Amid Ongoing Russia War

Ukraine's Defence Minister Denys Shmyhal stated that the country will need at least $120 billion in 2026 to sustain its defense efforts amid the ongoing war with Russia. This funding is critical to maintain defense lines, produce weapons such as drones, protect Ukrainian airspace, and deter further Russian aggression. Ukraine currently spends over 31% of its GDP on defense, with a 2025 budget of around $63 billion supplemented by Western allies' in-kind support. War costs continue to rise, with daily expenses reaching $172 million in 2025, including soldiers' wages and compensation for casualties. Ukrainian officials have proposed using frozen Russian assets held in the West to help finance their defense, though Russia condemns such attempts as theft. Despite fierce fighting and increased Russian air attacks, diplomatic efforts to end the conflict have yet to yield results, emphasizing Ukraine's urgent need for continued financial and military support.