Ukraine anticipates a substantial $3.5 billion by next month for a critical fund to procure US weapons, President Volodymyr Zelensky announced on Wednesday, bolstering its protracted fight against Russia’s full-scale invasion.
This financial mechanism, officially termed the Prioritized Ukraine Requirements List (PURL), consolidates contributions from NATO members, except the United States, to facilitate the acquisition of American-made weapons, munitions, and equipment.
During a joint press conference in Kyiv with visiting European Parliament President Roberta Metsola, Mr Zelensky confirmed the current financial standing.
He stated: "We received more than $2 billion from our partners specifically for the PURL program," Zelensky said at a joint news conference in Kyiv with visiting European Parliament President Roberta Metsola.
"We will receive additional money in October. I think we will have somewhere around $3.5-3.6 billion."
Although the Ukrainian leader refrained from detailing the precise contents of the initial shipments, he did confirm that they would "definitely" encompass missiles for Patriot air defence missile systems and munitions for High Mobility Artillery Rocket Systems (HIMARS).
The announcement underscores Ukraine's ongoing efforts to secure vital military aid as the conflict, now in its fourth year, appears no closer to an end, despite months of US-led peace efforts.
The Patriot systems are vital to defend against Russian missile attacks. The HIMARS systems have significantly bolstered the Ukrainian military’s precision-strike capability.
Kremlin spokesman Dmitry Peskov reaffirmed Russia’s readiness for peace talks, telling reporters on Wednesday that “we remain open for negotiations and prefer to settle the Ukrainian crisis by political and diplomatic means.”
However, Moscow has raised objections about key proposals and negotiations haven't moved forward.
The latest Russian overnight aerial attacks caused disruption to Ukrainian rail and power services, officials said Wednesday. In addition, a Russian glide bomb struck a town in the southern Kherson region of Ukraine, wounding three women and a 3-year-old girl, regional head Oleksandr Prokudin said.
Meanwhile, a US-Ukraine fund devised to spur investments in the Ukrainian mineral sector is set to launch with $150 million of seed capital, senior Ukrainian officials said Wednesday.
The US International Development Finance Corporation agency will commit $75 million to the fund, with Ukraine matching that contribution, Ukrainian Economy Minister Oleksii Sobolev said.
“This is enough to launch the first significant investments,” Sobolev said, describing the fund as a “beacon” that could draw additional support from other international institutions.
The US-Ukraine deal on developing the Ukrainian mineral sector was signed in April. It gives the US preferential access to new Ukrainian mining projects and is meant to spur reconstruction and enable continued military aid to Ukraine from the U.S.
Prime Minister Yuliia Svyrydenko said that the fund would initially focus on energy, infrastructure and critical mineral projects, with a goal of financing three projects by the end of 2026.
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