Is buying Ukrainian bonds war profiteering? If Ukraine wins the war against Russia, and that's a stretch because Ukraine no longer appears able to win, but if it were to win they need money to rebuild. Ukraine ‘Peace Bonds’ Could Draw ‘Big Interest’ From Retail Investors (forbes.com) Rebuilding Ukraine costs money. I saw a headline today that they need like $780 billion (I can't find the link right now). World leaders are of course NOT going to pay that amount so Ukraine will need to pay for it with bonds. And will rebuild over many years, and that will produce natural growth and good interest rates. But do not, I repeat NOT invest in Ukraine bonds now because they are going to lose the war with Russia. That's what conditions on the ground seem to indicate.