France to seize Russian cash for Ukrainian military
Russia’s top MP has denounced the plan as a violation of international law | France will use interest accrued on Russian assets frozen in European banks to buy weapons for the Ukrainian military, the country’s defense minister, Sebastien Lecornu, has announced. Russian State Duma Speaker Vyacheslav Volodin has criticized the decision, stating it contravenes international law. ● Multiple Western states froze an estimated $300 billion worth of Russian sovereign funds following the escalation of the Ukraine conflict in February 2022. Approximately $213 billion is held by the Brussels-based clearing house Euroclear. The assets have already generated billions in interest, of which Euroclear already transferred €1.55 billion ($1.63 billion) directly to Ukraine last July. ● In an interview to France’s La Tribune Dimanche on Saturday, Lecornu said that “thanks to interest from frozen Russian assets, we will also tap new funds worth 195 million euros.” He revealed that Paris would use the money to finance the delivery to Kiev of 155-mm artillery shells and glide bombs compatible with the Mirage 2000 fighter jets that France has handed over to Ukraine.
■ La France annonce 195 millions d'euros d'aide supplémentaire, grâce aux avoirs russes gelés (Le Dauphiné Libéré)
■ UK will return Russian money it is ‘so generously giving away’ – Moscow (03/08/25)