Ukraine amasses $43 billion for defense industry, Zelenskyy says

Olesia Safronova, Daryna Krasnolutska, Bloomberg News on Jun 21, 2025

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Ukraine has accumulated $43 billion for its defense industry so far this year between local funding and aid from allies, using it to ramp up the production and purchase of drones, artillery and other weaponry, said President Volodymyr Zelenskyy.

Kyiv has also launched a “Build with Ukraine” program and announced new agreements to be signed this summer, including opening production lines in European countries.

“We will provide the relevant technologies and will produce weapons in their countries for us and for them,” including drones, missiles and possibly artillery, Zelenskyy told reporters in Kyiv late Friday, adding that steps would be taken to prevent any of the technology ending up in Russian hands.

Ukraine is looking to develop its domestic military capabilities as it attempts to repel Russia’s invasion, well into its fourth year, and wean off dependence on military aid from allies, especially the U.S.

“It is our priority to maintain America’s support,” Zelenskyy said, adding that while some European counties have indicated they’ll stick with Ukraine at all costs, “the most difficult situation is without America’s participation.”

Zelenskyy is expected to attend the NATO summit at The Hague that starts on Tuesday. He’s denied that Ukraine faces the destruction of many of the Patriot air defense systems supplied by the U.S. and other allies since 2022, or lacks weaponry to successfully operate them.

Ukraine’s air defenses have also been shored up by the heavy use of interceptor UAVs, which can shoot down Shahed-type drones used by Russia, he said.

Kremlin forces continue massive air bombardments across Ukraine. Moscow launched 272 drones and eight missiles overnight, according the regular update from Ukraine’s General Staff. Kremenchuk in the Poltava region, site of a key oil refinery, was again a target after sustaining new damage a week ago.

Russia also continues to use glide bombs and other weaponry across the front line in Ukraine’s east, as well as in northeastern Sumy and Kharkiv, close to the nations’ border, and in Dnipropetrovsk and other regions.

Zelenskyy repeated a call for energy restrictions like lower oil price caps on Russian oil — a plan shelved by the European Union this week — as well as sanctions against companies working directly and indirectly with Russia’s defense industry.

Some 39 defense companies are involved in the production of Russia’s experimental Oreshnik ballistic missile, of which 21 aren’t currently sanctioned, he said.