The party of Andrej Babis, a billionaire and a skeptic of military support to Ukraine, prevailed in parliamentary elections by focusing on the economy.

Billionaire Andrej Babis’ victory could draw the country closer to EU mavericks Hungary and Slovakia, which oppose sanctions on Russia.

Czechs voted Saturday in an election expected to return populist ex-prime minister Andrej Babis to power, a result that could strain Prague’s support for...