Ukraine will require at least $120 billion in defense spending next year as it continues to fend off Russia’s full-scale invasion, Defense Minister Denys Shmyhal announced on Tuesday.

In a statement shared on Telegram, Shmyhal said Kyiv is in active talks with its international allies to secure nearly half of the required funds from external sources.

“Negotiations are ongoing with NATO and EU members,” Shmyhal stated. “Ukraine seeks $60 billion in funding from partners.”

The remaining portion of the defense budget, officials say, will need to come from domestic revenues, international loans, or additional foreign assistance.

The proposed funding would support a broad array of military needs, including the procurement of weapons and ammunition, drone production, cyber defense initiatives, and personnel support. Now entering its third year, the war has placed immense strain on Ukraine’s economy and military infrastructure, prompting repeated calls for sustained international support.

Ukrainian officials continue to emphasize that both financial and military aid are vital to the country’s ability to defend its sovereignty and maintain long-term security.