Finland to use proceeds from frozen Russian assets to supply ammunition to Ukraine

HELSINKI (Reuters) -Finland will supply 90 million euros ($101.35 million) of ammunition to Ukraine by using proceeds from Russian financial assets frozen by the European Union after Moscow's full-scale invasion in 2022, the Finnish defence ministry said on Monday. The EU has estimated that 210 billion euros of the roughly $300 billion worth of frozen Russian assets are held in the 27-nation bloc, mainly in the form of government bonds that Russia's central bank had stored as reserves. The European Commission decided last year that proceeds from the assets could be used to support Kyiv's military through an EU-run fund.