Finland "arms" Ukraine with Russian funds - 90 million euros of weapons in support of Kiev
Finland will send Ukraine 90 million euros worth of heavy ammunition, financed by proceeds from frozen Russian assets. The deal strengthens support for Kiev and also helps the Finnish defense industry.
Finland will supply Ukraine with heavy ammunition using proceeds from frozen Russian assets, the country's Defense Ministry said.
The move is part of a broader European Union initiative to channel profits from Russian assets into supporting Kiev's defense. Finland has reached an agreement with the European Commission to implement the measure through the European Peace Facility, the ministry said in a statement.
Under the agreement, Finland will provide 90 million euros worth of heavy ammunition from domestic suppliers. The Finnish government says the deal not only reinforces support for Ukraine but also benefits its national defense industry.
"We were able to negotiate additional funds for Finland's support for Ukraine. The funds come from frozen Russian assets. The products are purchased from Finnish industry to increase employment in the country and are sent to Ukraine to help its defense," said Finnish Defense Minister Antti Hakkanen.
The ministry did not provide details on the timeline, type of ammunition or delivery logistics due to operational security concerns. In March, Finland announced its 28th military aid package for Ukraine, worth approximately 200 million euros.
Since Russia launched its full-scale invasion in 2022, Western countries have frozen roughly $300 billion in Russian sovereign assets, with two-thirds held in the EU. Western governments have relied largely on reallocating interest income rather than seizing the assets outright.
The Kremlin has warned of retaliation if Russian assets are seized for the benefit of Ukraine. In early 2024, Moscow amended its legislation to allow for the counter-seizure of Western property in response to asset seizures abroad.
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