France to use frozen Russian assets to maintain Ukraine’s Caesar howitzers

France will use proceeds from frozen Russian assets to maintain the 60 Caesar howitzers it has supplied to Ukraine, French Foreign Minister Jean-Noel Barrot announced on May 9 during a visit to Lviv with other EU foreign ministers.

The visit marked a symbolic show of support as the ministers approved the establishment of a special tribunal to prosecute Russian leadership over the 2022 invasion of Ukraine. Barrot emphasised that redirecting revenue from frozen Russian funds would help ensure the continued operation of key military equipment provided by France, Caliber.Az reports via foreign media. 

"By mobilising income from frozen Russian assets, France... will be able to ensure the continued maintenance of the Caesar cannons it has supplied to Ukraine to help resist Russian attacks," he noted. 

Since the beginning of the war, the EU and G7 nations have frozen approximately €300 billion ($327 billion) in assets belonging to Russia's Central Bank, along with privately owned assets such as yachts and real estate.

During the same meeting, EU foreign policy chief Kaja Kallas announced an additional €1 billion in funding aimed at strengthening Ukraine's defence industry. European leaders are intensifying efforts to support Ukraine, especially as US President Donald Trump has threatened to withdraw American backing.

“Today the only obstacle to peace is in Moscow, parading around under the name of Vladimir Putin,” said Barrot, calling for greater pressure on the Russian president to reach a ceasefire.

The announcement coincided with Russia’s annual Red Square military parade, where President Putin, alongside allies such as Chinese President Xi Jinping, reaffirmed his commitment to military victory in Europe.

The EU has already begun using income generated from Russian assets to fund military aid and reconstruction in Ukraine, with current returns estimated at €2.5 to €3 billion annually.

By Sabina Mammadli