Chancellor Olaf Scholz supports the EU proposal to use 90% of revenues from frozen Russian assets to fund weapons purchases for Ukraine’s defense.
From: Euromaiden Press BY YURI ZORIA
Scholz backs using 90% of frozen Russian asset proceeds for Ukraine arms
German Chancellor Olaf Scholz says he supports a European Union proposal to use the vast majority of revenues generated from Russian assets frozen in the wake of Russia’s Ukraine invasion to finance arms purchases for the Ukrainian forces.
In remarks made during a visit to the Latvian capital Riga on 6 May, Scholz stated that around 90% of the revenues generated from Russian frozen assets should be spent on arms purchases for Ukraine, Reuters reported.
This endorsement aligns with an earlier proposal from EU foreign policy chief Josep Borrell to divert 90% of interest payments from immobilized Russian assets into an EU-managed fund dedicated to procuring weapons for Ukraine’s defense.
Voice of Ukraine 