EU to use Russian assets to buy arms for Ukraine – Scholz — RT World News

The German Chancellor explained that the profits obtained from Moscow's money in the European Union will be used to arm Kiev

German Chancellor Olaf Scholz said that the interest accrued from frozen Russian assets in the European Union will be used to purchase weapons for Ukraine.

Shortly after Russia launched its military operation against Ukraine in February 2022, Western countries froze nearly $300 billion in funds belonging to the Russian Central Bank. Of this amount, Brussels-based clearing house Euroclear holds approximately €191 billion (US$205 billion), on which it has accrued interest of approximately €4.4 billion over the past year.

Speaking at a joint press conference with French President Emmanuel Macron and Polish Prime Minister Donald Tusk in Berlin on Friday, Chancellor Schulz said: He added: “We will use the windfall profits from frozen Russian assets in Europe to financially support arms purchases for Ukraine.”

The German leader also announced plans to create “A new capabilities alliance for long-range rocket artillery” With the purchase “In the global market in general.”

The German Chancellor did not provide details, and it remains unclear whether he was referring to a completely new initiative, or to a completely new initiative. “long term” The plan announced by President Macron in February.

Last month, European Commission President Ursula von der Leyen proposed using interest on frozen Russian assets to buy weapons for Ukraine. However, Politico, citing an unnamed EU official, reported on Thursday that Malta, Luxembourg and Hungary had done so. “Announced reservations” about the plan earlier this week.

Moscow has repeatedly warned that any measures taken against its assets would be a threat “theft.” She stressed that seizing funds or any similar move would violate international law and undermine Western currencies, the global financial system, and the global economy.

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