EU to Raise $1.5 Billion to Supply Ammunition to Ukraine

European countries are planning to raise $1.5 billion to provide Ukraine with artillery shells from other nations, following a proposal by the Czech Republic, as reported by the British newspaper Financial Times on Friday.

During the Munich Security Conference, Czech President Petr Pavel mentioned that Prague has identified opportunities abroad to acquire hundreds of thousands of artillery shells, which could be quickly delivered to Ukraine with the necessary financial support from partners.

According to the Financial Times, citing officials familiar with the discussions, European capitals are rushing to gather $1.5 billion in emergency funding to supply Ukraine with artillery shells from abroad to strengthen the frontline against Russia.

The newspaper's sources indicated that the Czech Republic requires assistance from its European partners to secure the $1.5 billion needed to finance the ammunition purchase, with some European Union members already contributing their share.

Russia has repeatedly stated that weapon supplies to Ukraine contravene the requirements for a settlement and make NATO countries direct parties to the conflict, warning them that they are "playing with fire."