KYIV – Ukraine anticipates that by next month, a fund will have accumulated approximately $3.5 billion to facilitate the acquisition of weapons from the United States, aiding in its ongoing struggle against Russia’s comprehensive invasion which has persisted for over three years, according to Ukrainian President Volodymyr Zelenskyy on Wednesday.
The financial setup, identified as the Prioritized Ukraine Requirements List, or PURL, gathers contributions from NATO members, excluding the United States, to buy American arms, munitions, and equipment.
“Our partners have contributed more than $2 billion specifically for the PURL initiative,” Zelenskyy stated during a joint press conference in Kyiv with European Parliament President Roberta Metsola. “We expect to receive more funds in October, bringing the total to around $3.5-3.6 billion.”
Zelenskyy refrained from disclosing specifics about the weapons included in the initial shipments, but confirmed that they will certainly comprise missiles for the Patriot air defense systems and munitions for the High Mobility Artillery Rocket Systems, or HIMARS.
An end to the war appears no closer, despite months of U.S.-led peace efforts.
The Patriot systems are essential for defending against Russian missile attacks, while the HIMARS systems have notably enhanced the Ukrainian military’s precision-strike capabilities.
Kremlin spokesperson Dmitry Peskov reiterated Russia’s willingness to engage in peace discussions, stating to reporters on Wednesday that “we continue to be open to negotiations and prefer resolving the Ukrainian crisis through 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 U.S.-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 U.S. 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 U.S.-Ukraine deal on developing the Ukrainian mineral sector was signed in April. It gives the U.S. 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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Hanna Arhirova and Illia Novikov contributed to this report.
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