Russia does not object to Ukraine becoming an associate member of the European Union, but opposes the EU's transformation into a military bloc, Russian President Vladimir Putin said.

Axar.az reports that European experts know how much money and how much time will be needed to rebuild Ukraine's economy — we're talking about hundreds of billions of euros.

"I am aware of proposals by the Chancellor of the Federal Republic of Germany that Ukraine should become an associate member of the EU, and so on. This does not concern us at all. We have no objection to it. What we oppose is the European Union turning into a military bloc. That is what causes us concern," Putin said during a meeting with the heads of international news agencies on the sidelines of the St. Petersburg International Economic Forum.