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The Czechs will buy ammunition for Ukraine with the interest of frozen Russian assets

2024-08-20 14:01:00, Kosova & Bota CNA

The Czechs will buy ammunition for Ukraine with the interest of frozen Russian

The Czech Republic will use part of the revenue collected from interest earned on frozen Russian assets in the European Union to buy hundreds of thousands of artillery shells for Ukraine, the Czech Defense Ministry said on Tuesday.

Western countries have frozen Russian assets worth 300 billion dollars after the start of Russia's war in Ukraine in February 2022.

EU states are collecting the interest earned on the assets - which include bonds and other securities bought by Russia's central bank - and earmarking it for a European bloc fund to help Ukraine as it struggles. the Russian invasion.

EU governments agreed in June to use 1.4 billion euros of interest on assets to buy weapons and other forms of aid to Ukraine.

Czech Defense Minister Jana Cernochova has said some of the money could be used to buy artillery for Ukraine, with finance raised by Western partners.

"Thanks to the revenues provided by the frozen Russian finances, we will be able to supply Ukraine with tens of thousands of cartridges", said Minister Jana Cernochova.

The ministry did not give more details, but said that the equipment will be delivered "in the following months", and that it will have a quick effect on the battlefield.

Moscow has not commented on the statements of Czech officials.

In July, the Kremlin said the plan to use interest income from frozen assets on military aid to Ukraine amounted to "theft" and that legal action would be taken against anyone involved in the decision.

Czech officials have said that Ukraine received 50,000 to 100,000 rounds of ammunition under the initiative in June, and that shipments start every month.

In addition to these funds, the Czechs have collected about 1.7 billion euros from Western partners in May, funds that according to the Government in Prague are enough to buy almost a million cartridges./ REL





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