Czechs will buy ammunition for Ukraine with income from frozen Russian assets

PRAGUE (Reuters) -The Czech Republic will use some of the interest earned on Russian assets frozen in the European Union to buy hundreds of thousands more artillery shells for Ukraine, the Czech Defence Ministry said on Tuesday. Western countries blocked about $300 billion worth of sovereign Russian assets after Russia launched its full-scale invasion of Ukraine in February 2022. EU countries are taking the interest earned on the assets -which include bonds and other securities bought by the Russian central bank - and putting it into an EU fund to aid Ukraine as it fights the Russian invasion.