IRIA News

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Ukraine expects to have around $3.5 billion in a fund to buy U.S. weapons by next month, President Volodymyr Zelenskyy said. The arrangement, known as the Prioritized Ukraine Requirements List (PURL), pools contributions from NATO members other than the U.S. to buy American weapons, munitions, and equipment.

“We received more than $2 billion from our partners specifically for the PURL program,” Zelenskyy said at a joint news conference in Kyiv with European Parliament President Roberta Metsola. “We will receive additional money in October. I think we will have somewhere around $3.5-3.6 billion.”

Zelenskyy did not specify which weapons would be in the first shipments but confirmed they would include missiles for Patriot air defense systems and munitions for High Mobility Artillery Rocket Systems (HIMARS). Both systems have been vital to Ukraine’s defense, with Patriots intercepting Russian missile attacks and HIMARS significantly bolstering precision-strike capability.

An end to the war remains elusive, despite months of U.S.-led diplomatic efforts. Kremlin spokesman Dmitry Peskov told reporters Wednesday that “we remain open for negotiations and prefer to settle the Ukrainian crisis by political and diplomatic means.”

However, Russia has raised objections to key proposals, and no breakthrough in talks has been achieved. Ukraine insists on the restoration of its territorial integrity, while Moscow continues to maintain demands seen as unacceptable to Kyiv and its Western backers.

Russian Attacks Continue

Overnight Russian aerial attacks disrupted Ukrainian rail and power services, officials said. In the southern Kherson region, a Russian glide bomb struck a town, wounding three women and a 3-year-old girl, regional head Oleksandr Prokudin said. Ukrainian officials described the latest strikes as part of Russia’s continued campaign to target critical infrastructure and civilian areas.

The attacks underline the urgency of securing new weapons. Ukrainian defense planners view the PURL fund as essential for sustaining long-term resistance against Russia’s invasion, which is now in its fourth year.

Alongside military support, Ukraine is also preparing to launch a new joint investment fund with the United States to develop its mineral sector. Ukrainian officials announced Wednesday that the fund will begin with $150 million in seed capital. The U.S. International Development Finance Corporation will commit $75 million, with Ukraine matching that amount, Economy Minister Oleksii Sobolev said.

“This is enough to launch the first significant investments,” Sobolev said, calling the fund a “beacon” to attract additional support from international institutions.

The U.S.-Ukraine mineral sector agreement was signed in April and grants the U.S. preferential access to new mining projects. The initiative is intended both to spur Ukraine’s economic reconstruction and to reinforce military support by reducing dependence on outside sources for critical raw materials.

Focus on Energy, Infrastructure, and Minerals

Prime Minister Yuliia Svyrydenko said the fund would initially concentrate on energy, infrastructure, and critical mineral projects. The goal is to finance three projects by the end of 2026.

Ukraine’s mineral wealth, including lithium, titanium, and rare earths, is viewed as a strategic resource for reconstruction and Western supply chains. By securing U.S. investment, Kyiv hopes to integrate more deeply with Western economies while building resilience against future Russian aggression.

Zelenskyy’s announcement alongside Roberta Metsola highlighted the ongoing backing Ukraine continues to receive from European institutions. Metsola reiterated the European Parliament’s commitment to supporting Ukraine in its struggle against Russia, both militarily and economically.

The PURL fund, along with the new U.S.-Ukraine mineral initiative, underscores a dual-track strategy: immediate military aid to keep Ukraine’s defenses viable, and longer-term economic investment to stabilize the country and anchor it within Western frameworks.

Strategic Implications

For Kyiv, the buildup of PURL contributions shows continued Western resolve to provide military assistance despite signs of war fatigue in some capitals. For Washington, it allows allies to share more of the financial burden while ensuring that Ukraine’s weapon supplies come primarily from the U.S. defense industry.

The mineral fund adds an economic dimension, linking Ukraine’s reconstruction directly to U.S. and Western interests in critical supply chains. Together, these moves signal that Ukraine’s allies see the conflict not just as a regional war but as a test of international security and economic order.