Swiss Federal President Viola Amherd poses with President Petr Pavel of the Czech Republic and President Volodymyr Zelenskyy of Ukraine during the Summit on Peace in Ukraine, in central Switzerland for the Summit on Peace in Ukraine, on June 15 and 16.
The Czech Republic announced Tuesday that it will use the interest accrued on frozen Russian assets to purchase hundreds of thousands more artillery shells for Ukraine.
The back story: When Russia invaded Ukraine in 2022, the EU froze roughly $300 billion worth of Moscow’s assets – mostly bonds and other securities – held in EU banks. Earlier this year, the EU agreed to use interest and other profits from those assets to help support Ukraine. Russia objects to the policy as “theft.” So far, about $1.5 billion is available.
Czech-ing Russia’s invasion. Even before the frozen asset plan, Prague had raised about $1.5 billion in donations from 15 different countries to buy shells for Ukraine. The new influx of ammo will be welcome news but not a game-changer. Kyiv continues to suffer a shortage of shells and has even begun rationing them to keep the current invasion of Kursk well-supplied.
The shadow of the past. It’s no accident that Prague announced this new initiative on Aug. 20. That’s the date in 1968 when Moscow launched a massive invasion of Czechoslovakia to suffocate the Soviet satellite state’s brief experiment with greater freedom of expression, democratic participation, and economic decentralization.
With the US leading production and China driving new reactor development, Bank of America breaks down the who, what, where, when, and why behind nuclear’s return. Stay ahead of global energy trends with Bank of America Institute.
Chris, an Army veteran, started his Walmart journey over 25 years ago as an hourly associate. Today, he manages a Distribution Center and serves as a mentor, helping others navigate their own paths to success. At Walmart, associates have the opportunity to take advantage of the pathways, perks, and pay that come with the job — with or without a college degree. In fact, more than 75% of Walmart management started as hourly associates. Learn more about how over 130,000 associates were promoted into roles of greater responsibility and higher pay in FY25.
Last week, at the Munich Security Conference, a group of global technology providers, including Microsoft, announced the Trusted Tech Alliance — committed to shared, verifiable principles for trusted, transparent, and resilient technology across borders. At a moment of economic volatility and zero-sum technological competition, countries and customers are demanding greater accountability from technology providers. The Alliance addresses this by bringing together companies from across Africa, Asia, Europe, and North America around shared commitments: transparent governance, secure development practices, supply chain oversight, open digital ecosystem, and respect for the rule of law — ensuring the benefits of emerging technologies strengthen public trust while driving job creation and economic growth. Explore the Trusted Tech Alliance here.