"We cannot allow Putin to win this war," the chancellor said. "It is a matter of making it clear to Putin that there will be no dictated peace – Ukraine will not accept that and neither will we."

Scholz, who had been criticized for his initial hesitancy towards sending weapons to Ukraine, noted that Germany has now undergone a major shift in its defense policy.

Putin must not be allowed to get away with his cynical, inhuman war, he added.

War in Davos

Ukrainian President Volodymyr Zelenskyy spoke at the opening WEF session. He expressed concern about a lack of unity among Western allies in their support.

On Wednesday, Ukrainian Foreign Minister Dmytro Kuleba told elites in Davos that his nation "badly" needs multiple-launch rocket systems to match and defeat Russian arms in the Donbas.

"Every day of someone sitting in Washington, Berlin, Paris and other capitals, and considering whether they should or should not do something, costs us lives and territories," Kuleba said.