Ukraine’s defense sector now worth €35 billion, up from €1 billion in 2022 – EU’s Kubilius

The European Commissioner for Defense Industry and Space said this in an interview with Anton Borkovskyi, host of the Studio West program on the Espreso TV.

"What the Ukrainian government and industry have managed to achieve during the last three years of war is truly remarkable. The Ukrainian defense industry has increased its production capacity from €1 billion in 2022 to €35 billion this year," he said.

Kubilius said that this increase in production capacity is “really impressive.”

"We understand that in order to support Ukraine more effectively, it is very important that European member states use their own funds or safe loans to procure weapons from Ukraine that are needed for Ukraine’s defense. Of course, there may be some weapon systems that are not produced by the Ukrainian or European defense industries. In such cases, we will need to find ways to procure those weapons from other countries, including possibly the United States," the European Commissioner added.

He said that right now, the EU’s main task is to boost support for Ukraine by providing the financial resources needed to reach its strategic goal: strengthening the country so the Peace Formula can become real and achievable.

• On May 12, it was announced that the European Union would provide an additional 900 million euros to Ukraine within two weeks to buy weapons and ammunition.