Macron opposes seizure of Russian frozen assets, citing international law
French President Emmanuel Macron has rejected calls to confiscate frozen Russian assets, saying doing so would violate international law.
At the start of Russia’s 2022 invasion of Ukraine, G7 countries froze roughly $300 billion in Russian central bank assets, with two-thirds held by the Belgian clearinghouse Euroclear. European governments have explored ways to use the funds’ profits to support Ukraine without outright seizure, News.Az reports, citing foreign media.
“You cannot seize these assets from the Russian Central Bank even in such a situation,” Macron told CBS News. “It’s a matter of credibility… our countries must respect international laws. We will respect international law. We are predictable, and we will not do all impossible things with these frozen assets.”
Brussels has avoided direct confiscation due to legal and fiscal risks, instead using asset-generated profits for Ukraine’s defense and reconstruction via a $50 billion G7 loan and a separate EU program. European officials have recently debated riskier methods to channel more support to Ukraine, including reparations-style loans, as suggested by European Commission President Ursula von der Leyen.
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