Ukraine signs €1 billion arms deal with Denmark, France, Italy Using frozen Russian assets

Ukraine has signed a landmark agreement with Denmark, France and Italy for the purchase of arms worth €1 billion, funded by the European Peace Facility and derived from the proceeds of frozen Russian assets.

The agreement was signed in the western city of Lviv, Prime Minister Denys Shmyhal confirmed on May 9, Caliber.Az reports per foreign media. 

Under the terms of the deal, the three European countries will use the funds to procure Ukrainian-made weapons for use by Ukraine’s armed forces.

“This initiative not only provides us with weapons and support, but also gives a vital boost to our domestic defence industry,” Shmyhal said.

The so-called “Danish model” – whereby European nations purchase weapons directly from Ukrainian manufacturers – has been a key pillar of the EU’s latest military support plan.

In April, the European Union announced it would allocate nearly €1.9 billion in military assistance to Ukraine. Of that, €1 billion will fund purchases under the Danish model, over €600 million will go towards artillery and ammunition, and more than €200 million will be used to strengthen Ukraine’s air defences.

By Aghakazim Guliyev