The funds, originating from the Russian Central Bank's assets, will be allocated to procure large-caliber shells for Ukrainian artillery, among other military supplies.
The Czech Defense Ministry announced that these Russian funds would enable the acquisition of ammunition on a global scale. "This is a unique opportunity to quickly and effectively support Ukraine," the ministry stated.
Czech Defense Minister Jana Černochová emphasized the significance of the move. "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," she said, as quoted by Ukrinform.
According to Czech officials, EU member states decided in May 2024 that the interest accrued from frozen Russian assets would be directed toward immediate military support for Ukraine. The total amount of these funds is EUR 1.4 billion (USD 1.52 billion), with the Czech Defense Ministry authorized to use a portion of them.
Deliveries of the purchased ammunition are expected in the coming months, as reported by Ukrinform. This follows Ukraine's receipt of the first batch of artillery ammunition under the Czech initiative in June.
Since Russia's invasion of Ukraine, assets worth a total of USD 300 billion have been blocked in the European Union and several other Western countries.
(jh)
Source: IAR, Ukrinform