Ukraine secured more than €10 billion in agreements at the Ukraine Recovery Conference in Gdańsk, Poland, where officials said 160 deals were signed across sectors including banking, telecommunications, energy and defense technology. Prime Minister Yulia Svyrydenko said the commitments included financing for Vodafone Ukraine, Ukrnafta, Power One and state-owned lender PrivatBank. Much of the total had been announced before the event, including funding tied to an EU loan package and a World Bank program linked to reforms pursued by Kyiv. Senior European figures, including European Commission President Ursula von der Leyen, attended the gathering, underscoring continued international backing for Ukraine’s reconstruction.
The conference also highlighted a broader debate over how Ukraine’s eventual recovery should be financed. Participants broadly agreed that grants and loans remain essential while the war continues, but some attendees questioned how many such conferences can be held before large-scale rebuilding begins. They argued that long-term recovery will depend less on donor pledges and more on whether private investors can be persuaded to enter the market despite the security risks and uncertainty created by the war.
At the same time, the conflict continued to deepen. Ukraine has expanded long-range drone operations against targets inside Russia and in occupied Crimea, striking energy, transport and military-linked sites in recent weeks. Russian-installed authorities in Crimea declared a regional state of emergency after heavy drone attacks, while Russia’s Defense Ministry said it had intercepted hundreds of Ukrainian drones overnight. Ukrainian officials have also said recent strikes damaged major Russian military and logistics assets, part of a wider campaign that supporters say is increasing pressure on Moscow by disrupting fuel supplies and exposing the Russian home front to the effects of the war.
Russia, meanwhile, launched a large-scale missile and drone attack on Kyiv that killed at least 10 people and wounded more than 50, according to Ukrainian officials. Authorities in the capital said residential areas, emergency infrastructure and other sites were hit, with dozens of locations damaged across the city. Russia said the attack targeted military, energy and airport facilities and described it as retaliation for Ukrainian strikes on Russian civil infrastructure. The latest exchange reflected the widening scope of the war as diplomatic efforts remained stalled and both sides signaled no immediate reduction in hostilities.