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Part of the proceeds from frozen Russian assets in the EU will go towards ammunition for Ukraine

by AI | 21.Aug 2024 | Europe in brief AI

In May, EU member states agreed to use the proceeds from frozen Russian assets for the immediate military support of Ukraine. The total amount of these funds is 1.4 billion euros (approximately 35 billion crowns), part of which will be used by the Czech Ministry of Defense.

Ukrainian soldiers at an unknown location in the Kharkiv region on June 18, 2024. EFE/EPA/SERGEY KOZLOV

Prague – Part of the revenue from frozen Russian assets in the European Union will be spent on ammunition supplies for Ukraine, which will be procured by the Czech Republic. This will allow for the purchase of hundreds of thousands of pieces of large-caliber ammunition, Defense Minister Jana Černochová (ODS) announced today on the X network. According to her, the EU has decided this. She did not disclose the specific amount.

“This is another proof of allies’ trust in the Czech Republic and our ammunition initiative. It is a unique opportunity to support Ukraine, use resources originally belonging to Russia for this purpose, and save public finances of European countries,” the minister stated. EU member states agreed in May to use the proceeds from frozen Russian assets for immediate military support to Ukraine. The total amount of these funds is 1.4 billion euros (about 35 billion korunas), a portion of which will be used by the Czech Ministry of Defense.

According to the donor’s requirements, the EU, the Ministry will facilitate the acquisition of ammunition to meet the urgent military needs specified by the Ukrainian side, the ministry stated in a press release. The ammunition deliveries will take place in the coming months. “Even in this case, these are deliveries of sensitive military material to a country at war against an aggressor. Therefore, further details cannot be disclosed, as this could jeopardize assistance to Ukraine,” said Černochová. “However, I can say that thanks to the use of profits from frozen Russian funds, released by the European Union, we will be able to supply Ukraine with several hundred thousand pieces of large-caliber ammunition,” she added.

Fifteen countries have so far contributed to the Czech initiative, which is sourcing artillery ammunition for Ukraine, including from outside the EU. Recently, the first shipment of roughly 50,000 pieces of ammunition arrived in Ukraine. The Czech Republic is cooperating on the initiative mainly with the Netherlands and Denmark. The Czech Republic itself has contributed nearly 866 million korunas. By the end of the year, 500,000 pieces of ammunition are expected to be delivered to Ukraine. (August 20)