Ukraine plans to buy Italian air defence systems for proceeds from frozen Russian assets

Ukraine and Italy have discussed the possibility of using the proceeds generated by frozen Russian assets to purchase Italian-made air defence systems and ammunition.

Source: Ukraine's Defence Ministry; European Pravda

Details: The Defence Ministry noted that the use of proceeds from frozen Russian assets for the purchase of Italian air defence systems had been discussed at a meeting between Anatolii Klochko, the Ukrainian Deputy Defence Minister, and a delegation from the Italian Defence Industry Agency.

"We're interested in, among other things, ammunition of various calibres and air defence systems. However, it's crucial to understand the cost and timeframe within which they can be delivered to the Ukrainian defence forces," Klochko said.

In addition, Klochko, representatives of Ukraine's Strategic Industries Ministry and the General Staff examined the products made by Italian defence companies.

Marcello Mele, a representative of Italy's Defence Industry Agency, presented the key areas of the agency's work and outlined the mechanisms of potential cooperation.

The parties agreed to continue working to implement the idea of creating joint industrial projects.

Background:

• In 2024, the G7 agreed to jointly provide Ukraine with a US$50 billion loan, which will be backed by the proceeds from frozen Russian assets. The funds will be issued as a formal loan, with repayment to be made from the revenue generated by these frozen assets.
• At the end of December, Ukraine received the first tranche of the planned US$20 billion contribution to the loan from the United States.
• In January, Ukraine obtained the first tranche of €3 billion from the EU's contribution to the joint loan of the Group of Seven, which will be repaid using proceeds from frozen Russian assets.

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