'Coalition of the willing': Europe ponies up billions, vows peacekeeping force for Ukraine

BRUSSELS (CN) — British and French leaders announced the formation of a multinational peacekeeping force for Ukraine on Thursday, as European Commission President Ursula von der Leyen unveiled 6.52 billion euros ($7.04 billion) in reconstruction commitments expected to leverage over 10 billion euros ($10.8 billion) in total investments at the Ukraine Recovery Conference in Rome.

In a significant diplomatic breakthrough, British Prime Minister Keir Starmer and French President Emmanuel Macron co-chaired a “coalition of the willing” meeting that included U.S. representatives for the first time, establishing concrete plans for a 3-star multinational operational headquarters — commanded by a lieutenant general-level officer — to guarantee future ceasefire arrangements.

“Today, we announced plans for a new multinational force [for] Ukraine headquartered in Paris, so that we are ready to support a peace deal when it comes,” Starmer said during a joint conference with Macron, who is visiting Britain. “While Putin turns his back on peace, we are rallying more support for Ukraine right now to defend their people and force Putin to the table.”

Starmer outlined operational details for the coalition, saying Paris would serve as the initial headquarters for the first year before rotating to London. Plans include establishing a coordination center in Kyiv, with the 50,000-strong coalition tasked to protect Ukrainian airspace, secure Black Sea maritime routes and rebuild ground forces following any halt to fighting.

Macron announced progress on sanctions coordination, saying the EU’s 18th package of sanctions is being finalized even as the U.S. moves to impose further sanctions. The breakthrough comes after talks fizzled during the G7 summit and amid EU divisions when Hungary and Slovakia blocked earlier sanctions efforts last month.

On the coalition arrangements, Macron said the agreements will ensure any ceasefire will hold and bolster efforts in the air and sea. He added that the coalition would “strengthen our partnership against the Russian shadow fleet and their fight against their avoidance of sanctions.”

The conference also marked the first participation by key Trump administration figures: Special Envoy for Ukraine Keith Kellogg and U.S. Senators Lindsey Graham and Richard Blumenthal, signaling renewed American engagement after June’s G7 debacle in which President Donald Trump refused to sign off on new pressures against Russia.

Ukrainian President Volodymyr Zelenskyy confirmed “all necessary political signals for military aid resumption” after the Pentagon had paused certain weapons deliveries last week.

EU unveils major reconstruction fund

Meanwhile in Rome, European Commission chief Ursula von der Leyen announced the creation of an equity fund to support Ukrainian reconstruction, which she described as “Europe’s largest reconstruction fund [and] largest globally equity fund” set to focus on energy, transport, critical raw materials and dual-use industries.

“We are literally taking a stake in Ukraine’s future,” she said during the opening of the fourth Ukraine Recovery Conference, in the Italian capital.

The fund starts with 220 million euros ($240 million) and aims to raise 500 million euros ($540 million) by 2026, backed by coalition members Italy, Germany, France, Poland and the European Investment Bank, rather than the full EU. Von der Leyen said the fund will “leverage public money to bring large-scale private sector investments.”

The flagship fund was announced alongside a separate 2.3 billion-euro ($2.5 billion) EU aid package that includes 1.8 billion euros ($1.95 billion) in loan guarantees and 580 million euros ($630 million) in direct grants. The announcement brings total EU pledges under the Ukraine Investment Framework to 5.7 billion euros ($6.2 billion), expected to leverage more than 18 billion euros ($19.5 billion) in total investments.

Overall, Italian Prime Minister Giorgia Meloni said Thursday’s commitments would leverage over 10 billion euros ($10.8 billion) in total investments.

“Europe has been on Ukraine’s side from day one and will be on your side for as long as it takes,” von der Leyen told the gathering of over 30 countries and hundreds of companies. She also announced immediate disbursements of 1 billion euros ($1.08 billion) in macro-financial assistance and 3 billion euros ($3.2 billion) from the Ukraine Facility.

Zelenskyy called for a “Marshall Plan style approach” to reconstruction during his opening statements, arguing that rebuilding efforts benefit all partners. “Rebuilding Ukraine is not just about our country. It’s also about your countries, your companies, your technology, your jobs,” he said.

He also described the urgency driving reconstruction efforts, referencing Russia’s overnight attack with 400 drones and missiles, killing two in Kyiv. “Now everyone sees that Putin has rejected every peace proposal and is escalating the violence,” he said. “I urge all our partners: increase your investments when Russia increases its attacks.”

The conference takes place amid heightened concerns about Russian sabotage operations across Europe. Czech intelligence warned Thursday of an increase in Russian recruitment of so-called “Telegram agents” — individuals with no direct ties to Russia who are hired through online platforms to carry out attacks on European infrastructure and military assets supporting Ukraine.

Zelenskyy pressed for more aggressive use of frozen Russian assets, and warned Ukraine would be selective in who it deals with. “We will only welcome true partners, those who are not helping Russia continue this war.”

German Chancellor Friedrich Merz announced concrete support, saying Germany would purchase additional U.S. Patriot air defense systems for Ukraine after personally approaching Trump last week. Zelenskyy confirmed Germany is ready to pay for two Patriot systems, while Norway said it would pay for one.

The Patriot systems, built by Raytheon Technologies, are among the most sophisticated air defense platforms in the U.S. military arsenal and are designed to intercept incoming missiles and aircraft.

Von der Leyen also declared Ukraine ready to advance in EU membership talks, pledging continued assistance through 2028 and beyond.

The conference comes as Europe has stepped up its military support for Ukraine. According to the Kiel Institute for the World Economy, Europe for the first time since 2022 surpassed the U.S. in total military aid, totaling 72 billion euros ($78 billion) compared to 65 billion euros ($70 billion) from the U.S.

The EU aid announced Thursday targets five priority areas: small and medium-sized businesses, large-scale private sector projects, rebuilding war-damaged cities, energy security and critical infrastructure repair.

Ukraine faces massive reconstruction needs, with estimates indicating $500 billion will be required over the next decade. Ukrainian Finance Minister Sergii Marchenko told a donor platform meeting in Rome on Wednesday that Ukraine would need $22 billion in international financing for 2026 if active hostilities end, though funding requirements will remain at 2025 levels if the war continues.

The conference also unfolded as diplomatic efforts continue elsewhere. U.S. Secretary of State Marco Rubio held a “frank” meeting with Russian Foreign Minister Sergei Lavrov in Malaysia on Thursday during which Lavrov presented “a new idea” that Rubio said may not automatically lead to peace but “could potentially open the door.”