Macron makes statement on reparations loan for Ukraine
Photo: Emmanuel Macron, President of France (Getty Images)
French President Emmanuel Macron commented on the proposed reparations loan for Ukraine, amounting to €140 billion. He emphasized the need to adhere to international law on this issue, The Guardian reports.
Speaking to journalists at the opening of the EU leaders’ summit in Copenhagen, Macron said he shares the view of Belgian Prime Minister Bart De Wever, who criticized the European Commission’s initiative.
"When assets are frozen, one has to respect international law. This is what the Belgian Prime Minister also recalled," Macron said.
Belgian Prime Minister Bart De Wever has opposed the confiscation of frozen Russian assets, most of which are held in Belgium’s Euroclear depository.
He said Russia’s assets are better left frozen in a Belgian bank until the conclusion of peace talks between Russia and Ukraine. Euroclear reportedly holds €183 billion of the €300 billion in frozen Russian assets in Europe.
Frozen Russian assets
After Russia’s full-scale invasion in February 2022, Western countries imposed extensive sanctions. Freezing Russian assets abroad became one of the main tools of pressure.
According to IMF estimates and experts, the volume of frozen assets in 2024–2025 exceeds $300–350 billion. Exact figures are difficult to determine, as some funds are held in different jurisdictions.
RBC-Ukraine previously reported that the EU is discussing the idea of using frozen Russian assets to provide a reparations loan to Ukraine. The loan would be repaid only after Ukraine receives compensation from Russia.
Additionally, Reuters recently reported that Ukraine could receive $300 billion in funding without direct confiscation of Russian funds. The money would be used for defense and to cover budget deficits.
