France says seizing frozen Russian assets risky, needs EU ‘framework’

AFP | Paris

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France France yesterday said it did not rule out the EU seizing frozen Russian funds to help Ukraine but warned that such a move could risk Europe’s financial stability.

“Using the assets themselves can only be considered within the framework of the European Union,” French Prime Minister Francois Bayrou told lawmakers in Paris.

But Bayrou’s finance minister reiterated France’s view that such a move would be contrary to international agreements.

“Whatever one thinks of Russia’s action in Ukraine... it is not in international traditions to seize the assets of central banks,” the minister, Eric Lombard, said in Brussels.

France has been one of the strongest opponents in Europe to the idea of seizing billions of euros’ worth of Russian assets swiftly frozen after Moscow launched its all-out 2022 invasion of Ukraine.