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Ukraine faces $27B war funding shortfall
Ukraine is facing a severe funding crisis ahead of the winter season, with an estimated defense funding gap of around $27 billion in 2026. The country needs a significant increase in international support to purchase weapons and ammunition, especially intercept missiles, to ensure the protection of critical infrastructure from Russia's increasing attacks. Kyiv is also under heavy Russian bombardment, as Moscow launched over 190 shells and missiles in a single night targeting energy facilities and infrastructure, leading to widespread power outages. International calls for aid are growing; Zelensky is demanding more air defense systems, and the Ukrainian government is exploring ways to increase revenue, such as raising taxes. Meanwhile, Russia also faces rising costs and financial needs, with plans to allocate more funds to defense despite declining oil revenues due to attacks on its oil facilities. An European funding crisis looms, as Ukraine's support heavily depends on the European Union, which is demanding internal reforms in exchange for additional funding. The need for massive financial assistance is expected to continue into the coming year.
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