Credit: Freepik

Frozen Russian Assets To Fund Czech Purchases of Ammunition For Ukraine

The European Union has decided to allocate part of the revenue from the seizure of frozen Russian assets to purchase supplies of ammunition for Ukraine, administered by the Czech Republic, which will make it possible to buy hundreds of thousands more pieces of large-calibre ammunition, Defence Minister Jana Cernochova announced on social media today.

The minister did not disclose how much revenue would be diverted in this way.

“This is another proof of the confidence of the allies in the Czech Republic and in our ammunition initiative,” said Cernochova. “This is a unique opportunity to support Ukraine, to use resources originally belonging to Russia and to relieve the public finances of European countries.”

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 (roughly CZK 35 billion), part of which will be used by the Czech Defence Ministry.

According to EU requirements, the ministry will mediate the purchase of ammunition to meet urgent military needs specified by the Ukrainian side, the ministry said in a press release. Ammunition deliveries will take place in the coming months.

“Again, this is a supply of sensitive military material to a country that is at war against an aggressor,” said Cernochova (ODS). “Therefore, we cannot give further details, as this could jeopardise our assistance to Ukraine. However, I can say that thanks to [this initiative], we will be able to supply Ukraine with several hundred thousand pieces of large-calibre ammunition.”

So far, 15 countries have contributed to the Czech initiative, which seeks artillery ammunition for Ukraine from outside the EU. Some time ago, the first shipment of around 50,000 pieces of ammunition arrived in Ukraine. The Czech Republic is cooperating with the Netherlands and Denmark in the initiative. The Czech Republic alone has contributed almost CZK 866 million. By the end of the year, 500,000 pieces of ammunition should have been delivered to Ukraine.

Brno Daily Subscribe
Sign up for morning news in your mail