Ukraine considers buying Italian air defense system with frozen Russian assets

On January 11, the Ukrainian Defense Ministry announced that Italian and Ukrainian officials had met to find ways to use frozen Russian assets to finance Kiev's increased air defense capabilities and ammunition purchases.

Meeting between Ukrainian and Italian defense officials. Photo released on January 11. (Source: Ukrainian Defense Ministry)

"We are interested in various caliber ammunition and air defense systems," Ukrainian Deputy Defense Minister Anatoliy Klochko said after hearing Marcello Mele, representing the Italian Defense Industry Agency, present his agency's priorities and outline potential cooperation mechanisms.

Italy delivered the highly advanced SAMP/T system to Ukraine in cooperation with France in 2023. The second system was delivered at the end of September 2024.

Last December, the Italian government approved a decree extending Italy's military assistance to Ukraine until 2025.

Western countries and other partners have frozen some $300 billion in Russian sovereign assets deposited in their bank accounts when the full-scale conflict began.

While Kiev has called for the entire amount to be seized, the G7 has instead announced a $50 billion loan to Ukraine that will be repaid through profits generated from frozen assets. The money will be used for the country's reconstruction and military needs.

The program allows Ukraine to acquire weapons without relying on Western funding or putting further strain on its already tight budget.

Meanwhile, the Italian delegation expressed its readiness to participate in the allocation of the European Union (EU) budget, especially in relation to Ukraine's industrial capacity. Both sides agreed to continue working on implementing joint industrial projects.

The frozen Russian assets are financial assets belonging to the Russian government and its entities that have been blocked in Western jurisdictions due to sanctions imposed since the outbreak of the conflict in Ukraine. As of early 2024, these assets amounted to around $300 billion, and with additional funds from oligarchs and state-owned enterprises, the total would be close to $400 billion.

Source: https://baoquocte.vn/ukraine-can-nhac-mua-he-thong-phong-khong-cua-italy-bang-tai-san-nga-bi-dong-bang-300566.html