France allocates interest from frozen Russian assets to support Ukrainian military
Russia’s leading lawmaker has condemned the initiative revealed by the French defense minister, characterizing it as a breach of international law. Read the full article at RT.com.
TroibNews 
France has announced plans to utilize the interest generated from Russia's frozen central bank assets to acquire weapons for the Ukrainian military, according to Defense Minister Sebastien Lecornu. This decision has drawn sharp criticism from Russian State Duma Speaker Vyacheslav Volodin, who has called it a violation of international law.
In the wake of the Ukraine conflict's escalation in February 2022, Western nations froze an estimated $300 billion in Russian sovereign funds, with approximately $213 billion held by the Brussels-based clearing house Euroclear. These assets have accumulated billions in interest, and last July, Euroclear transferred €1.55 billion directly to Ukraine.
In an interview with France’s La Tribune Dimanche, Lecornu stated, “thanks to interest from frozen Russian assets, we will also tap new funds worth 195 million euros.” He disclosed that these funds will be used to finance the delivery of 155-mm artillery shells and glide bombs compatible with the Mirage 2000 fighter jets that France has provided to Ukraine. Additionally, he indicated that France intends to deliver an unspecified number of armored fighting vehicles, including the AMX-10 RC.
Volodin condemned the plan as a breach of international law, claiming, “What is obviously hysteria born of impotence has finally gotten the better of reason.”
In response to a similar initiative by the UK on Friday, Volodin cautioned that London “will have to give back to Russia what they are now so generously giving away,” reiterating that Moscow has “every reason to respond in kind.” His comments followed Ukrainian Prime Minister Denis Shmigal's confirmation that Kiev had received an initial tranche of approximately $1 billion from London, financed through the proceeds from Russian assets.
Late last year, the US also made a transfer of the first $1 billion installment of a $20 billion loan backed by interest earned from the immobilized Russian assets. At that time, Kremlin spokesman Dmitry Peskov remarked, “this money was stolen from us. Our assets have been frozen absolutely illegally, against all norms and rules.” He asserted that Russia would pursue all legal avenues to safeguard its property and rights.
While Kiev has been urging its Western allies to expropriate the frozen Russian assets for military and reconstruction purposes, some EU member states, notably Germany, France, and Italy, have expressed hesitation, citing legal apprehensions. The International Monetary Fund has similarly warned that appropriating these funds without a solid legal foundation could erode global confidence in Western financial institutions.
Sophie Wagner for TROIB News
In the wake of the Ukraine conflict's escalation in February 2022, Western nations froze an estimated $300 billion in Russian sovereign funds, with approximately $213 billion held by the Brussels-based clearing house Euroclear. These assets have accumulated billions in interest, and last July, Euroclear transferred €1.55 billion directly to Ukraine.
In an interview with France’s La Tribune Dimanche, Lecornu stated, “thanks to interest from frozen Russian assets, we will also tap new funds worth 195 million euros.” He disclosed that these funds will be used to finance the delivery of 155-mm artillery shells and glide bombs compatible with the Mirage 2000 fighter jets that France has provided to Ukraine. Additionally, he indicated that France intends to deliver an unspecified number of armored fighting vehicles, including the AMX-10 RC.
Volodin condemned the plan as a breach of international law, claiming, “What is obviously hysteria born of impotence has finally gotten the better of reason.”
In response to a similar initiative by the UK on Friday, Volodin cautioned that London “will have to give back to Russia what they are now so generously giving away,” reiterating that Moscow has “every reason to respond in kind.” His comments followed Ukrainian Prime Minister Denis Shmigal's confirmation that Kiev had received an initial tranche of approximately $1 billion from London, financed through the proceeds from Russian assets.
Late last year, the US also made a transfer of the first $1 billion installment of a $20 billion loan backed by interest earned from the immobilized Russian assets. At that time, Kremlin spokesman Dmitry Peskov remarked, “this money was stolen from us. Our assets have been frozen absolutely illegally, against all norms and rules.” He asserted that Russia would pursue all legal avenues to safeguard its property and rights.
While Kiev has been urging its Western allies to expropriate the frozen Russian assets for military and reconstruction purposes, some EU member states, notably Germany, France, and Italy, have expressed hesitation, citing legal apprehensions. The International Monetary Fund has similarly warned that appropriating these funds without a solid legal foundation could erode global confidence in Western financial institutions.
Sophie Wagner for TROIB News
