Finland to supply Ukraine with ammunition funded by proceeds from frozen Russian assets
Finland has joined the EU programme that provides military aid to Ukraine using proceeds from frozen Russian assets held in Europe – with €90 million allocated for this purpose.
Source: Finnish Ministry of Defence, as reported by European Pravda
Details: Finland has been selected as one of the countries to participate in this initiative. An agreement with the European Commission stipulates that Finland will supply Ukraine with large-calibre ammunition. The ammunition will be procured from Finland's domestic defence industry and paid for using the proceeds from frozen Russian assets, channelled through the European Peace Facility – totalling €90 million.
Defence Minister Antti Häkkänen said that this mechanism both supports jobs in Finland's defence sector and strengthens aid to Ukraine.
Quote: "This new package alongside our national EUR 660 million support programme will forge closer links between the Finnish industry and Finland's support for Ukraine. This is a great example of the Finnish defence industry's abilities, and it shows that our investments into ammunition production capacity are paying off."
Background: On 18 May, Denmark announced a long-term military support package for Ukraine worth approximately €560 million.
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