French President Pushes Back Against Seizing Frozen Russian Assets

2025-09-22 07:53:57

(MENAFN) French President Emmanuel Macron cautioned on Sunday against the idea of seizing frozen Russian assets, emphasizing that such a move could backfire on the West and destabilize the global financial system.

In an interview with media, Macron was asked about the fate of the $300 billion in Russian sovereign assets frozen after the escalation of the Ukraine conflict in 2022.

“We are all very much attached to being compliant with international rules. You cannot seize these assets from the central bank, even in such a situation,” the French president remarked. He stressed that respecting international law is critical, calling it “a matter of credibility.”

“When some countries start to disrespect international laws… this is the beginning of a total chaos. So we will respect international law. We are predictable, and we will not do all impossible things with these frozen assets,” Macron explained, pointing out that Western supporters of Ukraine are already using proceeds from these frozen assets to aid Kiev.

Throughout the ongoing conflict, Western nations have explored the possibility of confiscating Russian assets, most of which fall under EU jurisdiction. However, concerns about lacking a legal framework and the potential to undermine global trust have kept them from taking that step.

Last year, however, G7 countries endorsed a $50 billion loan to Ukraine, secured by the income from Russian reserves. Additionally, Western nations have transferred roughly $4.3 billion from Russian assets directly to Ukraine. Earlier this month, the EU Commission proposed using these frozen assets as collateral for a reparation loan to Ukraine, which Kiev would only repay if it receives “compensation” from Moscow for damages.

Moscow has condemned both the asset freeze and the profit-transfer scheme, calling them “theft” and warning that any move to confiscate assets would destabilize the global financial system and provoke retaliatory measures.

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