The Czech Republic will use part of the interest accrued on Russian assets frozen by the European Union to buy more large-caliber ammunition for Ukraine, Reuters reported, citing a statement from the Czech Defense Ministry today, quoted by BTA.
The West has frozen Russian assets worth about $300 billion since Russia invaded Ukraine in February 2022, the agency recalls.
European Union countries are taking the interest earned on the assets, which include bonds and other securities purchased by the Russian Central Bank, and putting it into an EU fund to help Ukraine fight the Russian invasion, Reuters notes.
EU governments agreed in June this year to use 1.4 billion euros ($1.5 billion) of the profits from the assets to buy weapons and provide other assistance to Kiev.
The Czech Defense Ministry announced that part of the money would be used as part of the country's initiative to buy artillery shells for Ukraine from various places around the world, funded by Western countries. partners.
Ukraine received the first tranche of military aid under the Czech initiative in June, with deliveries continuing every month, Czech officials said.
"This is a unique opportunity to quickly and effectively support Ukraine," the Czech Defense Ministry said in a statement.
The Kremlin has described the plan to use interest income from frozen Russian assets to finance military aid to Ukraine as theft and said it would take legal action against anyone involved in the decision, Reuters recalls.