Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Security official of Iraq's Kataib Hezbollah: We reiterate that the involvement of the American enemy in this war will bring upon it unprecedented calamities and destruction
Security official of Iraq's Kataib Hezbollah: Iran possesses the capabilities for resilience, enabling it to continue launching rockets for more than a year
Israeli media: Sirens are sounding near the Dead Sea after unrecognized aircraft were detected
Russian President Vladimir Putin: Russia had supplied Iran with military hardware, it is not linked to current crisis and it is not in breach of international laws
Al Mayadeen's correspondent in southern Lebanon: One person was martyred and three others were wounded in a raid carried out by an Israeli drone targeting a motorcycle in Kfar Jouz near Nabatieh
Putin: I don't even want to discuss the possibility of the US 'killing Khamenei'
Tasnim News Agency: Air defenses downed an Israeli Hermes-type drone in western Iran
Putin: We discussed the details of the proposal with the American and Israeli sides and sent certain signals to our friends
Russian President Vladimir Putin: Russia has presented a proposal to stop the war that guarantees Iran's nuclear interests and addresses Israel's security concerns
Iranian TV: The 13th wave of Operation True Promise 3 is underway, heavy ballistic missiles are being launched

Czech Rep. to buy ammunition for Ukraine using frozen Russian assets

  • By Al Mayadeen English
  • Source: Agencies
  • 20 Aug 2024 14:10
2 Min Read

The Czech Republic will use interest from Russian assets frozen in the EU to purchase additional large-caliber ammunition for Ukraine.

Listen
  • x
  • Czechs to buy ammunition for Ukraine using frozen Russian assets
    A soldier of Ukraine's 141st separate infantry brigade rides in a pickup truck at the frontline in Zaporizhia region, Ukraine, August 19, 2024. (AP)

The Czech Defense Ministry announced Tuesday that the Czech Republic will allocate a portion of the interest accrued from Russian assets frozen in the European Union to purchase additional large-caliber ammunition for Ukraine.

Following the NATO-orchestrated war in Ukraine in February 2022, Western countries froze approximately $300 billion in sovereign Russian assets.

EU countries are channeling the interest earned from frozen Russian assets, including bonds and securities held by the Russian central bank, into an EU fund dedicated to supporting Ukraine.

In June, EU governments agreed to use 1.4 billion euros ($1.5 billion) in profits generated by the assets to buy arms and pay for other kinds of support to Ukraine. 

The Czech Defense Ministry announced that a portion of this money will be allocated to its ongoing initiative to procure artillery ammunition for Ukraine from global sources, with funding provided by Western partners.

Related News

EU prepares contingency plan amid US uncertainty over Ukraine aid

France to fund €1.4Bln from frozen Russian assets for Ukraine military

In June, Ukraine received its first shipment under this initiative, and deliveries have been ongoing monthly since, according to Czech officials. "This is a unique opportunity to quickly and effectively support Ukraine," a ministry statement said. 

The Kremlin denounced the plan to use interest earned on frozen Russian assets for military aid to Ukraine as "theft" and vowed to pursue legal action against those involved in the decision.

Last month, the EU was considering freezing Russian assets forever to soothe US fears over the repayment of a $50 billion loan to Ukraine, the Financial Times reported.

On July 26, the EU sent €1.5 billion to Ukraine, marking the first transfer under a new scheme utilizing Russia's frozen assets, which is estimated at €210 billion across the bloc, according to Euro News.

Ninety percent of this financial aid will fund weapons, ammunition, and air defense systems for Ukraine, while the remaining 10% will support reconstruction, particularly of the energy infrastructure damaged by Russian strikes.

The initiative reportedly intends "to prevent a humanitarian crisis and migration surge" due to power grid destruction.

  • frozen assets
  • Russia
  • Russian special military operation
  • Czech Republic
  • Ukraine
  • Russian frozen assets
Russia & NATO

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

Most Read

Iranian missiles impact Israeli sites in Tel Aviv in 2nd wave

Iran's missiles impact 'strategic' Israeli site in Tel Aviv

  • Politics
  • 14 Jun 2025
Bin Salman: Islamic world backs Iran in call to Pezeshkian

MBS says Islamic world backs Iran in call with Pezeshkian

  • MENA
  • 15 Jun 2025
Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

Iran launches 9th wave of Op. True Promise 3, destroys IOF air defense

  • MENA
  • 17 Jun 2025
Smoke rises after an Iranian ballistic missile directly struck Tel Aviv, Occupied Palestine, June 13, 2025 (AP)

Op. True Promise 3: Iran's ballistic missiles strike Tel Aviv

  • MENA
  • 13 Jun 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Trump on Iran strikes: 'I may do it, I may not do it'
US & Canada

Trump on potential of strikes on Iran: 'I may do it, I may not do it'

Poll: Trump voters say no to war with Iran
MENA

Majority of Trump supporters say no to war on Iran: Poll

Iranian Foreign Minister Abbas Araghchi, visits the Muscat International Book Fair in Oman, Friday, April 25, 2025. (AP)
Politics

Iran denies media reports on delegation landing in Oman for talks

US President Donald Trump, left, and Britain's Prime Minister Keir Starmer attend a family photo session during the G7 Summit, in Kananaskis, Alberta, Monday, June 16, 2025 (AP)
Politics

Britain weighing military support to US in event of strike on Iran

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS