Scholz: Frozen Russian assets will be used to buy weapons for Ukraine

The revenues from frozen Russian assets will be used to purchase weapons for Ukraine, as was stated by German Chancellor Olaf Scholz at a press conference with Polish Prime Minister Donald Tusk and French President Emmanuel Macron.

Next week NATO defense ministers will meet at Ramstein and discuss a detailed implementation plan.

On January 23, it became known that the EU plans to apply a tax on excess profits from frozen assets of the Central Bank of Russia, but without confiscating the funds. A group of countries, including Germany, made it clear that they are against the arrest of Russian assets for legal reasons.

However, on January 29, EU ambassadors reached an in-principle agreement on using profits from frozen Russian assets to help Ukraine.

Read also: Speaker Johnson offers loan assistance to Ukraine. Biden administration reacts