Ukraine's Finance Minister: Sufficient Funds to Hold Out Till Mid-2025 Without US Aid

Dec 12, 2024 at 8:10 AM
Ukraine's Finance Minister Serhii Marchenko has expressed confidence in the country's ability to hold out until at least mid-2025. In an interview with El Pais, he addressed the crucial question of what would happen if the US were to stop providing aid to Kyiv. Marchenko emphasized the significance of developing a cooperation plan with the new US administration and building trust with the Trump administration, which he considers a priority for both Ukraine and Europe.

Ukraine's Resilience in the Face of Uncertainty

Financial Stability and Military Preparedness

Marchenko stated that Ukraine currently has sufficient funds, weapons, missiles, and artillery shells to resist until the first half of 2025. The country is ensuring adequate budget allocations for purchasing ammunition and military equipment in 2025. This financial stability allows Ukraine to maintain a strong defense posture and be well-armed to counter aggression.He also highlighted that Ukraine is receiving the necessary quantities of weapons from the US, providing it with the means to defend itself at least for the first half of the year and beyond. This enables Ukraine to make the most of the time available and engage in necessary negotiations with key allies in the US.

Building a Strong Ukrainian Army

Marchenko emphasized that the only alternative to Ukraine joining NATO is a modern and strong Ukrainian army. However, maintaining such an army solely with domestic resources is impossible. Ukraine needs a continuous supply of necessary weapons, access to missiles, and modern air defense systems.Currently, Ukraine is spending over 26% of its GDP on the military campaign due to the full-scale war. But with significant losses, there is a need to replenish equipment. After the war, substantial funds will be required to deter Russia from any future aggression.

US Aid and its Impact

The US has announced the disbursement of $20 billion funded by interest from frozen Russian assets as part of a larger $50 billion aid package. Treasury Secretary Janet Yellen emphasized the strategic importance of this economic package, stating that it will provide Ukraine with a critical infusion of support.This aid helps Ukraine maintain its military capabilities and continue the fight against Russia. It also shows the international community's commitment to Ukraine's defense and stability.Marchenko's statements highlight Ukraine's determination and preparedness in the face of adversity. With sufficient funds and weaponry, along with ongoing support from allies, Ukraine is poised to defend its sovereignty and territorial integrity.