EU Allocates €400 Million From Frozen Russian Assets to Bolster Ukrainian Defense Industry

The EU has already allocated €400 million from the income generated by frozen Russian assets to support the Ukrainian defense industry, and this support will continue, said the EU Ambassador to Ukraine, Katarina Mathernova.

"The significant innovation here is that €400 million has been directed specifically to the Ukrainian defense industry. This is to support the Ukrainian military-industrial complex in producing faster and cheaper. This makes logistics easier and supports the Ukrainian economy," the ambassador stated in an interview with Interfax-Ukraine.

Mathernova added that she cannot yet say how much funding for the Ukrainian military-industrial complex will increase, as the decision has not yet been finalized, but assured that "it will be more than what is currently available."

She noted that Denmark was a leader in this process, through which the mentioned funds were directed to the Ukrainian defense industry.

‘Denmark was the first. Therefore, we reached out to them for assistance in directing funds obtained from frozen assets. We provided €400 million for the purchase of Ukrainian-made weapons. And this is not all,” the ambassador noted.

“Of the 18 “Bohdana” self-propelled artillery systems they acquired, ⅔ were financed by the EU from the income generated by frozen Russian assets,” Mathernova explained.

She also expressed hope that other countries would follow suit and “use the incredible innovations occurring in Ukraine's defense sector as a platform for financing.”