Seized Russian assets fuel Finland’s military support to Ukraine

Finland has been chosen as one of the countries participating in a European Union initiative to provide defence equipment to Ukraine using funds generated from frozen Russian assets.

Under an agreement with the European Commission, Finland will supply Ukraine with heavy ammunition sourced from domestic manufacturers. The 90 million euro ($101 million) deal will be financed through the European Peace Facility (EPF), using proceeds from Russian assets that have been frozen under EU sanctions, Caliber.Az reports via the Finnish Defence Ministry’s message.

“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,” said Minister of Defence Häkkänen.

“Finland’s support for Ukraine is unwavering and strong even in other respects. 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,” said Minister Häkkänen.

By Naila Huseynova