NEW YORK, February 13. /TASS/. Supporting Ukraine and expanding their own armed forces may cost the largest European countries an additional $3.1 trillion over the next 10 years, according to estimates cited by Bloomberg Economics in connection with a statement by the United States Secretary of Defense Pete Hegseth, who warned Europe that it must ensure its own security.
In particular, the agency estimated that rebuilding Ukraine's armed forces could cost about $175 bln over 10 years, depending on the condition of the troops at the time of the settlement. A peacekeeping force of 40,000 troops would cost about $30 bln over the same period.
Most of the funds would go toward strengthening the armed forces of EU member states and increasing the combined defense budget to 3.5% of GDP, which is in line with recent discussions at NATO headquarters in Brussels, Bloomberg wrote. Additional funds would be used to finance artillery stockpiles, air defense systems, and missile systems. According to Bloomberg Economics, if the financing is done through debt, the five largest European NATO members would need an additional $2.7 trillion in borrowed funds over the next 10 years. Europe is not prepared to take on a large share of the burden, Bloomberg noted.
According to the agency, Europe's commitment to support Ukraine has exposed the scale of the challenge facing Europeans, for which they are currently largely unprepared. In particular, according to a senior European official, Russia has a significant manpower advantage over Europe, and its military economy is capable of producing shells and other military equipment at a rate that exceeds the needs of the army on the front lines in Ukraine.
In addition, Bloomberg Economics predicted that Ukraine would need to spend about $230 bln to restore buildings and infrastructure. At the same time, according to the agency, there is currently a $130 bln gap between Ukraine's reconstruction needs and promised funding, which jeopardizes any economic recovery and could undermine Ukraine's long-term sustainability, the agency said.
Russian President Vladimir Putin and US President Donald Trump discussed, among other things, the prospects for a settlement in Ukraine in a telephone conversation on February 12. According to the Kremlin, Trump spoke in favor of a quick end to hostilities and a peaceful solution to the problem. Putin, for his part, mentioned the need to eliminate the root causes of the conflict and agreed with Trump that a long-term settlement could be achieved through peaceful negotiations, the Russian leader's press service said.