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German Chancellor Olaf Scholz advocates for using frozen Russian assets, estimated at $300 billion, to compensate Ukraine for damages exceeding $580 billion. This follows a meeting with Ukrainian President Zelensky at the Ukraine Recovery Conference in Rome. Scholz emphasized Germany's support for Ukraine's reconstruction, citing benefits for German growth, energy security, and social systems impacted by Ukrainian refugees. Zelensky also urged Western partners to actively utilize frozen Russian assets for reconstruction, mirroring the Marshall Plan. The EU announced a significant new funding initiative for Ukraine's rebuilding.

Prepared by Rachel Morgan and reviewed by editorial team.