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

Frozen Russian assets will be used to buy weapons for Ukraine

In Europe, the proceeds from the frozen assets of the Russian Federation will be used to purchase weapons for Ukraine. The relevant decision has already been made, and specific mechanisms will be discussed on March 18.

This was stated by German Chancellor Olaf Scholz at a joint briefing with French President Emmanuel Macron and Polish Prime Minister Donald Tusk. He specified that on March 18, the allies in the Ramstein format should discuss concrete steps to implement plans to help Ukraine.

According to Scholz, "some decisions have already been approved in Brussels." Thus, the EU decided to replenish the Peace Fund with an additional 5 billion euros to help Ukraine this year. "We also planned to expand the training mission of the Ukrainian military. In addition, we will use the proceeds from the frozen assets of the Russian Federation in Europe to financially support the purchase of shells for Ukraine," the chancellor said.

Scholz did not specify what kind of ammunition he was talking about. Perhaps he is referring to the shells that the Czech Republic proposes to buy outside the EU: although enough countries have already declared their support for the initiative, the appropriate funding has not yet been found.

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

Separately, Scholz announced the creation of a coalition of Ukraine's long-range rocket artillery allies.

"Germany, France, and Poland are among Ukraine's largest political, military and financial allies. We stand closely and steadfastly by Ukraine's side. We made this clear from the very beginning, and it will continue as long as necessary," the German chancellor added.

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