France to finance Ukrainian arms using Russian assets
France will cover the cost of weapons for Ukraine using the funds obtained from frozen Russian assets. Read Full Article at RT.com.
TroibNews 
France has revealed its intention to allocate a portion of the proceeds from frozen Russian assets towards purchasing weapons for Ukraine. This decision follows calls from Kiev urging Paris to expedite the delivery of arms.
In reaction to Moscow's military actions in Ukraine, Western nations have frozen approximately $300 billion in Russian assets. Although Kiev and some of its European allies have pressed for the total confiscation of these funds, the EU has yet to establish a legal framework for such action.
In June, however, the European Commission approved the release of €1.5 billion derived from Russian assets to support Ukraine.
“The European Commission has agreed with the French Directorate General of Armaments to use these funds to quickly procure priority munitions, artillery and air defense equipment for Ukraine from the French industry worth 300 million euros [$332 million] by 2024,” the French Defense Ministry stated on Friday.
“This is an opportunity to continue ramping up the French industry in support of Ukraine,” the statement continued.
Ukrainian President Vladimir Zelensky recently urged France, Britain, and the US to hasten the procurement of weapons, as Ukrainian forces have struggled to counter the ongoing advancements of the Russian military in Donbass. “Decisions are needed, as are timely logistics for the announced aid packages,” he emphasized.
Russia has maintained that the freezing of its assets abroad is illegal under international law, equating it to theft. Foreign Ministry spokeswoman Maria Zakharova warned in June that Moscow's “inevitable response will be severely damaging to Brussels.”
Ian Smith contributed to this report for TROIB News
In reaction to Moscow's military actions in Ukraine, Western nations have frozen approximately $300 billion in Russian assets. Although Kiev and some of its European allies have pressed for the total confiscation of these funds, the EU has yet to establish a legal framework for such action.
In June, however, the European Commission approved the release of €1.5 billion derived from Russian assets to support Ukraine.
“The European Commission has agreed with the French Directorate General of Armaments to use these funds to quickly procure priority munitions, artillery and air defense equipment for Ukraine from the French industry worth 300 million euros [$332 million] by 2024,” the French Defense Ministry stated on Friday.
“This is an opportunity to continue ramping up the French industry in support of Ukraine,” the statement continued.
Ukrainian President Vladimir Zelensky recently urged France, Britain, and the US to hasten the procurement of weapons, as Ukrainian forces have struggled to counter the ongoing advancements of the Russian military in Donbass. “Decisions are needed, as are timely logistics for the announced aid packages,” he emphasized.
Russia has maintained that the freezing of its assets abroad is illegal under international law, equating it to theft. Foreign Ministry spokeswoman Maria Zakharova warned in June that Moscow's “inevitable response will be severely damaging to Brussels.”
Ian Smith contributed to this report for TROIB News
