Austria's 35-year-old chancellor resigned amid allegations he used federal funds to fuel his rise to power

• Austrian Chancellor Sebastian Kurz suddenly resigned Saturday.
• Kurz resigned amid a potential no-confidence vote following corruption allegations.

Austrian Chancellor Sebastian Kurz suddenly resigned Saturday amid corruption allegations regarding his use of federal funds that was leading to a potential no-confidence vote from opposition leaders.

According to The Washington Post, 35-year-old Kurz denied the allegations against him but recommended that power be transferred to Austrian Foreign Minister Alexander Schallenberg.

"My country is more important to me than my person," Kurz said during a televised address Saturday, according to the Washington Post. "I want to make space, to prevent chaos and ensure stability."

Members of Parliament were planning to hold a vote of no-confidence against Cruz on Tuesday after officials last week announced that he and some of his closest allies were the subjects of a corruption investigation.

According to a report from Bloomberg, Kurz and nine others are accused of using federal funds to pay a newspaper publisher to help him achieve his speedy rise to power. His offices were raided by authorities on Wednesday, according to The Washington Post.

According to the Post, Kurz became one of the youngest world leaders when he assumed the role of chancellor in 2017 at the age of 31. In recent years, Kurz attempted to rebrand from his far-right, anti-immigration past in an effort to move more toward the political center, the Post reported.