jspanish.com – As of March 14, 2025, the French National Assembly has adopted a nonbinding resolution urging the European Union to confiscate frozen Russian assets to support Ukraine’s reconstruction efforts.

This move reflects a growing European inclination toward utilizing these assets, estimated at approximately €200 billion, to aid Ukraine amidst ongoing conflicts.

Background

Following Russia’s invasion of Ukraine in 2022, Western nations froze around €200 billion in Russian central bank assets About, with a significant portion held by Brussels-based financial institution Euroclear.

The European Union has been exploring legal avenues to repurpose these assets for Ukraine’s benefit, including the possibility of using the interest generated, estimated to be at least €3 billion annually.

French Position

Historically, France expressed reservations about outright confiscation of these assets, citing concerns over international law and financial stability.

However, the recent parliamentary resolution indicates a shift, aligning with other European nations advocating for more assertive measures to support Ukraine. The resolution emphasizes the need for increased assistance to Kyiv and calls for the confiscation of frozen Russian assets to provide financial support.

European Context

The European Commission has been investigating mechanisms to utilize the profits from these frozen assets, acknowledging legal complexities surrounding outright confiscation. European leaders, including those from France and Germany, have shown willingness to consider these assets in potential ceasefire negotiations.

The G7 countries have also backed the idea of finding ways to access the frozen assets to benefit Ukraine.

Conclusion

The French parliamentary resolution marks a significant development in the international discourse on leveraging frozen Russian assets to aid Ukraine. While the resolution is nonbinding, it reflects mounting pressure on the French government and the EU to take decisive action. The situation underscores the ongoing legal, financial, and political debates as Europe seeks effective strategies to support Ukraine amid the continuing conflict.