If the “reparation loan” fails to materialise – and if Ukraine does not have a plan B – it may have dezastruos consequences for Ukraine that could lead to a defeat in the war”.

Leonid Litra, Senior Research Fellow, Visiting Fellow at ECFR, comments to The Telegraph on the strategic consequences of insufficient and delayed funding for Ukraine.

On the battlefield, the consequences of underfunding are already visible. By some estimates, Ukraine can afford to fire just one artillery round for every ten shot by Russia. Combined with acute manpower shortages, this asymmetry has weakened Ukrainian defensive lines and allowed Russian forces to advance amid crucial negotiations.

“Ukraine is outgunned 10 to one. It has the capacity to produce €40bn in goods related to defence each year, and it doesn’t even produce half of this. This year it will produce four million drones. But it could produce eight million”, the expert explained.

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