Chancellor Scholz backs idea to redirect profits from Russian assets to provide arms for Ukraine

German Chancellor Olaf Scholz approves the idea of using income from Russian assets to purchase weapons for Ukraine.

"These (income from frozen Russian assets – ed.) should first of all be used to buy those weapons and ammunition that Ukraine needs to defend itself," Scholz said, as quoted by The Guardian.

He added that it is important that ally countries now give clear direction for the use of these funds, for example, to support the purchase of ammunition.

The European Commission’s proposal offers that 90% of the profit from the frozen sovereign assets of Russia is intended to be directed through the European Peace Facility to purchase weapons for Ukraine. The rest is planned to be used for recovery and reconstruction efforts.

Leaders of the 27 EU countries will discuss this proposal at the summit on 21 March, but according to media reports, they are unlikely to reach a final decision. 

Much attention during the summit's consideration of this issue will be paid to the reaction of Hungarian Prime Minister Viktor Orbán, who opposes sending weapons to Ukraine.

This proposal also raises questions among neutral or non-aligned countries such as Malta, Austria, and Ireland.