Rebuilding Ukraine Will (Also) Be a European Responsibility

Translated by Federico Emanuele

Russia's war of aggression against Ukraine

On the night between Wednesday, February 23, and Thursday, February 24, 2022, the Russian President publicly announced the launch of a “large-scale military operation” in Ukraine—effectively an invasion of Ukrainian territory through ground artillery and direct bombardments against several cities and key infrastructure.

This aggression did not come entirely as a surprise; in the weeks leading up to it, the buildup of troops along the Russian and Belarusian borders had already raised the risk of a possible invasion. The phase of latent tension formally ended when the Russian President unilaterally recognized the independence of Donetsk and Luhansk, the two self-proclaimed republics located in eastern Ukraine. Shortly afterward, Russian tanks rolled into Ukrainian territory.

After the initial phase of invasion and targeted missile strikes, the conflict soon transformed into a war of attrition reminiscent, in certain aspects, of World War I. The “frontal warfare” approach quickly took shape, with the two opposing armies entrenched along tightly contested frontlines, and soldiers confined to large trenches dug into the ground, either preparing assaults or sheltering from enemy fire.

While rural areas thus became the battlefield for this kind of clash, major cities have witnessed—almost daily—missile strikes against key civilian infrastructure, including such sensitive targets as hospitals (even pediatric ones) and population aid centers, often operated by non-governmental organizations working on the ground.

Tomorrow's Ukraine: Future Perspectives

From the very beginning, European institutions have worked to ensure a swift and just resolution to the war, also by allocating substantial funds and granting Ukraine candidate status—thereby opening accession negotiations. However, the path toward EU membership remains long and complex. It requires meeting numerous political and economic criteria, achievable only through deep structural reforms, which will inevitably take time.

Added to these challenges is perhaps an even more urgent priority: the country’s reconstruction. Although the war is still ongoing, with daily attacks against civilians and infrastructure, the European Union has placed significant emphasis on this issue from the outset. The annual Ukraine Recovery Conference (URC) has become the central platform for coordinating such efforts.

A key goal of the EU is to persuade industry and the private sector to invest in reconstruction now, without waiting for the unpredictable end of hostilities. In exchange, Ukraine has pledged to provide risk-mitigation mechanisms and substantial tax incentives to foreign companies willing to engage.

The 2025 edition of the Ukraine Recovery Conference was co-organized by Italy and Ukraine and took place in Rome on July 10–11. In the presence of representatives from numerous governments, international organizations, and private financial actors, four fundamental guiding principles were reaffirmed: the business dimension, the human dimension, the local-regional dimension, and the European dimension.

Although the immediate priority is to encourage and safeguard European and international companies in participating actively in Ukraine’s reconstruction through private capital, the latest World Bank estimates project that rebuilding will require a 10-year plan (2025–2035) valued at approximately $500 billion. This plan aims not only to rebuild but also to make Ukraine more resilient, technologically advanced, and modern—paving the way for future integration into the European Union.

Alternatively, should Ukraine accept ceding part of its territory—particularly the contested Donbas regions, which have suffered the worst damage during the war—one possible outcome would be that the Russian Federation assumes responsibility for reconstruction costs in the newly annexed areas.

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