Ukraine and Italy have discussed using frozen Russian assets to procure Italian-made systems and ammunition for Kyiv.
“We are interested, among other topics, in ammunition of various calibers and air defense systems,” said Anatolii Klochko, Deputy Minister of Defence of Ukraine.
Klochko added that the costs and the timeframe within which equipment could be delivered are still undisclosed.
Moreover, Ukrainian officials and Italian Defence Industry Agency representatives discussed key areas of cooperation and agreed to continue their efforts toward possible joint industrial projects.
The partnership with Italy provides “a key partner in supporting Ukraine but also to contribute to the proper allocation of the EU budget to fully leverage the capabilities of Ukraine’s industry,” stated the Ukrainian government.
Frozen Russian Assets
Approximately 210 billion euros ($216 billion) in assets from the Central Bank of Russia are held in the EU and remain frozen under sanctions imposed over Moscow’s invasion of Ukraine in February 2022.
Most of these funds are held by the international deposit organization Euroclear, based in Belgium.
Last year, EU governments decided to use revenues generated by the immobilized assets to provide military and economic support to Ukraine.
In October, France said it would finance military equipment and ammunition for Kyiv using 300 million euros ($324 million) from Russia’s frozen assets.
The delivery includes Caesar self-propelled howitzers, 155mm artillery ammunition, Aster surface-to-air missiles, and anti-aircraft systems.
