Ukraine’s Ministry of Defense Boosts State Budget by Recycling Destroyed Equipment

The Ministry of Defense has successfully replenished the state budget by recycling destroyed military equipment. The department reported the recovery of 1,000 tons of scrap metal containing valuable precious metals, including:

• 100 kg of gold

• 1,900 kg of silver

• 25 kg of platinum

Colonel Oleg Koval, head of the Department of Alienation and Utilization of Excess Military Property, stated that in the first seven months of 2024, the department generated UAH 24.7 million from recycling these precious metals.

Funds from the sale of precious metals are allocated according to the National Bank of Ukraine’s regulations: 80% of the proceeds from gold and platinum group metals, and 50% from silver, are directed to the state budget. The remaining 20% and 50%, respectively, are retained in a special fund by the Ministry of Defense and are used to support the needs of the Armed Forces.

The ministry anticipates earning at least an additional UAH 18 million from this initiative by the end of the year.