Chancellor Scholz backs EU plan to spend 90% of interest on weapons for Kiev Interest earned from Russian assets frozen by the European Union should be spent on buying weapons for Ukraine, German Chancellor Olaf Scholz said on Monday. The US and its allies seized around $300 billion in assets belonging to the Russian central bank in February 2022, when the Ukraine conflict escalated. The EU has stopped short of confiscating the money outright, proposing instead to direct the interest to Kiev. “It is important that we also agree that this money can be used for arms purchases not only in the EU, but for purchases w
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