Finland is using frozen Russian assets to provide Ukraine with heavy ammunition, the government announced on Monday.
The Defence Ministry said Finland will deliver heavy ammunition to Ukraine, financed through profits generated by frozen Russian assets.
The initiative is part of a broader EU effort to support Ukraine with military supplies funded by the interest accrued from Moscow's frozen assets. Finland is one of the member states implementing this programme.
The ammunition will be procured from Finnish suppliers, with the deal valued at some 90 million euros.
"We were able to negotiate additional funding for Finland's support for Ukraine. The funds come from frozen Russian assets. The products are purchased from Finnish industry to boost employment at home and sent to Ukraine to help its defence. I am very pleased with the outcome," Defence Minister Antti Häkkänen (NCP) said in a government announcement.
More than 260 billion euros in Russian assets remain frozen in western financial institutions, with the majority held in Europe. The EU has agreed to use the interest generated from these funds to bolster Ukraine's defence capabilities.
