France to consider resolution on seizing frozen Russian assets in favor of Ukraine – Media
Photo: France to consider a resolution on seizing frozen Russian assets in favor of Ukraine (Getty Images)
The French National Assembly will consider a resolution on Wednesday, March 12, calling for the seizure of frozen Russian assets in favor of Ukraine, Le Figaro reports.
The draft resolution calls on the European Union, NATO, and other allies to "continue and strengthen their political, economic, and military support for Ukraine."
The document also includes several key points that will be discussed, including Ukraine's EU accession process, the presence of French soldiers on Ukrainian soil in the event of a peace agreement, and the import of Russian gas by EU countries, which the resolution urges to "put an end to."
The issue of Russian assets has become particularly relevant as calls for their confiscation have intensified in Europe. The resolution text urges the EU to use frozen Russian assets to support Ukraine immediately.
Confiscation of frozen Russian assets
The majority of Russia's frozen assets are held in Europe. Specifically, the amount of frozen Russian assets in the Euroclear depository (Belgium) stands at €183 billion. From the interest generated, Ukraine is set to receive another tranche of €2 billion in March 2025.
In 2024, the interest earned on frozen Russian assets under sanctions amounted to approximately €6.9 billion.
Additionally, G7 countries are utilizing future profits from these assets to provide Ukraine with a $50 billion loan, which Kyiv has already started receiving. However, there is still no consensus in Europe regarding the full confiscation of Russian funds due to concerns about the potential impact on the EU financial system.
Media reports also indicate that Europe's largest states are exploring the possibility of confiscating over €200 billion in frozen Russian assets as part of plans for a ceasefire agreement in Ukraine.
