We can't let Putin win this war: German Chancellor on Ukraine conflict

German Chancellor Olaf Scholz on Thursday said Russian President Vladimir Putin cannot be allowed to win his war in Ukraine and sought to end any dependence on Russian fuels, even as he asserted that deglobalisation was not going to work.

In a special address on the last day of the World Economic Forum Annual Meeting 2022, Scholz said it was not only the statehood of Ukraine that was at stake, but also the system of international cooperation, designed in the aftermath of two world wars to the vow of "never again".

A system that subjects power to law, bans violence and guarantees freedom, security and prosperity is also at stake, he asserted.

He, however, said Putin's war was not the sole reason for a global watershed moment.

"In this multipolar world, very different countries with growing influence are demanding a greater political participation. This is not a threat. We will open up new ways of cooperation," he said.

The chancellor further said, "One thing is clear -- deglobalisation is the wrong track. It will not work. We need a different globalisation that promotes smart and sustainable solutions to climate change as well as solidarity-based action in the food crisis or in the fight against pandemics."

Speaking about the need to resist Russia's aggression against Ukraine, he said, "Our goal is therefore crystal clear -- we cannot allow Putin to win this war."

He also said the 2020s will be years of change, renewal and rebuilding, and that he is looking forward to a more hopeful future for Europe.