Czech Republic to buy munitions for Ukraine with proceeds from frozen Russian assets

Reuters reported the information.

 Western countries have frozen about $300 billion of Russia's sovereign assets after it launched a full-scale invasion of Ukraine in February 2022.

The EU countries are investing the interest earned from the proceeds of Russian assets in the EU fund to help Ukraine. In June, EU governments agreed to use €1.4 billion of these proceeds to buy weapons and pay for other types of support for Ukraine.

The Czech Defense Ministry decided to use some of these funds for its efforts to purchase artillery shells for Ukraine. Ukraine received the first shipment of this ammunition back in June. Since then, deliveries have continued on a monthly basis.

"This is a unique opportunity to support Ukraine quickly and efficiently," the agency said.

The Kremlin, meanwhile, calls the use of proceeds from frozen Russian assets to help Ukraine theft. They promised to take legal action against all those involved in this decision.

• Recently, the Czech Defense Ministry announced plans to launch a second project to purchase shells for Kyiv, Initiative 2025.