Czechia to buy several hundred thousand rounds of ammunition for Ukraine using frozen Russian assets

20.08.2024 13:33

Ukrinform

The Czech Republic has acquired another important source of funds, which it will use to finance the supply of much-needed large-caliber ammunition for Ukraine -- profits from the assets of the Russian Central Bank frozen in the EU countries.

That is according to the Czech Defense Ministry, Ukrinform reports.

"Thanks to the use of revenues from frozen Russian finances, released by the European Union, we will be able to supply Ukraine with several hundred thousand pieces of large-caliber ammunition," Czech Defense Minister Jana Cernochova said.

According to the ministry, EU member states decided in May 2024 that the proceeds from frozen Russian assets will be used precisely for immediate military support for Ukraine. The total amount of these funds is EUR 1.4 billion, and the Czech Defense Ministry will be able to use part of them. This is a unique opportunity to quickly and effectively support Ukraine with funds that originally belonged to Russia.

"I am glad that the Czech Republic will participate in this new form of military support for Ukraine. This is another demonstration of the confidence of our foreign partners in the effectiveness of the Czech ammunition initiative. It was on the basis of the success of this initiative that the European Union approached us a few weeks ago to use the proceeds from frozen Russian assets to purchase ammunition for Ukraine," Cernochova said.

The procedure will be similar to other cases from the so-called ammunition initiative. According to the requirements of the donor of the money - in this case the European Union - the Czech Defense Ministry will mediate the procurement of ammunition so as to fulfill the urgent military needs specified by the Ukrainian side.

The deliveries of ammunition financed from the proceeds of the frozen assets of the Russian Central Bank will take place in the coming months. This is therefore an important aid to the defense of Ukraine, which will soon be reflected directly on the battlefield.

In early 2024, the Czech Republic offered the initiative to search in third countries and supply ammunition to Ukraine using EU money. Almost 20 countries joined the initiative. The first batches of ammunition arrived in Ukraine in June.

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