Ukraine seeks $12 billion to sustain war efforts into 2025

Ukraine is preparing to continue the war with Russia into 2025 and is discussing necessary financial support with Western partners for this purpose, says Finance Minister Serhiy Marchenko.

According to him, Kyiv previously expected the active phase of hostilities to last until mid-2024. This has already been accounted for in the International Monetary Fund (IMF) assistance program for Ukraine.

This forecast did not materialize. That’s why the partners are continuously talking about the need for additional financial guarantees, Marchenko said in an interview with RBC-Ukraine. The war will continue into 2025, and there is a need for a buffer.

The head of the Ukrainian Ministry of Finance noted that Kyiv needs an additional 12-15 billion dollars from Western partners to cover the budget deficit in 2025.

At the same time, according to the minister, the budget deficit has already reached 6 billion dollars. However, since part of the funds was allocated to purchase weapons, it may increase to 12 billion dollars after a revision.

Earlier, Ukrainian President Volodymyr Zelensky said the war should be ended as soon as possible to "not lose human lives." For the first time since the spring of 2022, he also allowed for negotiations with Russian President Vladimir Putin.

According to him, these could take place during the second peace summit on Ukraine, but only if a peace plan is developed and Russia agrees to the negotiations by that time.

- If we want to end the war and have all the strength to do so if the world unites around Ukraine, we will talk to those in Russia who make all the decisions, emphasized Zelensky.

Ukrainian Foreign Minister Dmytro Kuleba, during his visit to China, also noted that Kyiv is ready for negotiations with Russia to end the war but does not yet see Moscow's readiness for this.

Meanwhile, according to a survey by the Kyiv International Institute of Sociology (KIIS), almost one-third of Ukrainians (32%) agreed to territorial concessions to Russia to end the war. However, most (55%) Ukrainians still categorically oppose making peace on such terms.

In mid-June, Russian President Vladimir Putin, for the first time, put forward his demands to start negotiations: the West must lift international sanctions imposed on Russia, and Kyiv must refuse to join NATO and withdraw troops from four regions – Kherson, Zaporizhzhia, Donetsk, and Luhansk. Putin also demanded the "denazification" of Ukraine and its recognition as a neutral country free of nuclear weapons. Zelensky called these conditions an "ultimatum."