Ukraine to receive long-range drones and missiles from frozen Russian assets
Photo: Drones and missiles will be transferred to Ukraine at the expense of Russian frozen assets (kongsberg.com)
By the end of 2024, Ukraine’s defense forces will receive domestically produced long-range drones, anti-tank missile systems, rockets, and artillery installations. This is part of a new agreement with Denmark aimed at supporting Ukraine's defense industry with 4.2 billion Danish kroner (about $629 million), reports the Ministry of Strategic Industries of Ukraine.
Of the total financial aid, 1.3 billion Danish kroner will come directly from Denmark's state budget, while the remaining 2.9 billion kroner will be derived from interest on frozen Russian assets managed by Denmark on behalf of the EU.
A series of implementation agreements were signed between Ukraine's Ministry of Strategic Industries, the Ministry of Defense of Ukraine, and the Danish Ministry of Defense.
According to Danish Defense Minister Troels Lund Poulsen, Denmark has long been one of Ukraine's strongest supporters and will continue to do so. But from a long-term perspective, it is crucial to support Ukraine's defense industry directly.
Poulsen also expressed his satisfaction with the effectiveness of this "Danish model," which enables the rapid funding and delivery of highly needed equipment through close collaboration with Ukraine.
Deputy Minister of Defense of Ukraine, Dmytro Klimenkov, highlighted that Denmark is the first country to purchase arms directly from Ukraine's defense manufacturers.
"According to the agreements, Ukrainian arms manufacturers — both state-owned and private — will provide the Armed Forces of Ukraine with self-propelled artillery units, strike drones, anti-tank weapons, and missile systems by the end of 2024," reported Hlib Kanevskyi, Head of the Defense Procurement Policy Department.
As reported earlier, the EU decided to transfer revenues from frozen Russian assets to support Ukraine. The funds will be channeled through the European Peace Facility and the Ukrainian Fund to bolster Ukraine's military capacity and aid in the country's reconstruction.
In the summer of 2024, Euroclear made an initial transfer of €1.55 billion to the Ukrainian Fund while holding €173 billion linked to sanctioned Russian assets, including frozen assets of Russia's Central Bank.
