US President Donald Trump and his administration have repeatedly made it clear that the burden of maintaining peace in post-war Ukraine will likely fall on Europe. Bloomberg Economics calculates that protecting Ukraine and expanding their own militaries could cost the continent’s major powers an additional $3.1 trillion over the next 10 years, reports Bloomberg.

Assisting Ukraine’s armed forces during this period could cost around $175 billion, depending on their current state and the territory they are supposed to protect. Deploying a peacekeeping force of 40,000 soldiers would cost around $30 billion, but Ukrainian President Volodymyr Zelenskyy has called on the Europeans to send 200,000 troops to ensure an effective policy of deterring Russia along the 1,000-kilometer border. Analysts say that this would require a force of at least 100,000 troops, but European countries have begun talks on creating a contingent of 40,000-50,000—but even that would be difficult to assemble and provide.

The bulk of the additional funds will go to modernizing and strengthening the armed forces of EU countries, which will require an increase in defense spending—from the current 2% of GDP to 3.5%—in European NATO countries. Money is needed, among other things, to create reserves of artillery and missile ammunition, expand air defense systems, etc. Also, it will be indispensable to invest in the defense industry, strengthen the EU's eastern borders, and prepare the armed forces for rapid deployment.

If funded with borrowed money, the five largest European NATO members will need an additional $2.7 trillion over the next decade.