French MPs approve resolution on confiscating Russian assets for Ukraine aid

The French National Assembly has passed a resolution calling for the confiscation of frozen Russian assets to support Ukraine, marking a significant step in the ongoing debate over how to aid Ukraine amidst the ongoing conflict with Russia.

The vote, which was broadcast on the chamber's website, saw 288 members of parliament voting in favour, while 54 voted against, Caliber.Az reports, referring to Russian media.

The resolution is symbolic but carries substantial political weight. Supporters of the measure included deputies from the presidential party Renaissance, the Socialists, the Ecologists, the right-wing Republicans, and parliamentarians from the Horizons group of former Prime Minister Edouard Philippe. Opponents included members of the left-wing “Unsubmissive France” and the French Communist Party, while the far-right Rassemblement National, led by Marine Le Pen, abstained.

In addition to its call for the use of confiscated Russian assets to assist Ukraine, the resolution also urges the European Union to build an independent European defence force.

Despite the symbolic nature of the resolution, as noted by French media, the move is seen as a way to exert pressure on the French government, which remains strongly opposed to the confiscation of frozen Russian assets.

The French government has expressed concerns about the legality of seizing Russian assets, with several government representatives warning that such actions could violate international law. Russian presidential spokesman Dmitry Peskov has also warned that Moscow would respond if its assets were seized in Europe.

Russian Foreign Ministry spokesperson Maria Zakharov also reacted to the resolution stating at the press briefing that the appropriation of profits from financial operations involving Russia’s reserve funds without its consent amounts to theft.

“The Elysee Palace is once again shining brightly, and we are once again forced to point out that our former partners continue their attempts to misappropriate—let’s call things by their name—simply steal Russian assets that have been frozen in the EU under illegal restrictive measures,” Zakharova said.

She emphasized that all blocked funds and the income generated from them remain the property of the Russian Federation. “The misappropriation of profits from financial operations conducted with our reserve funds without Russia’s explicit consent is theft, regardless of whatever pseudo-legal justifications are used to cover it up,” she added.

The issue of confiscating over 200 billion euros worth of frozen Russian assets has been a contentious one across Europe. While the UK has supported the measure, France has remained cautious. French Economy Minister Eric Lombard has opposed the idea, stating that the frozen Russian assets “belong precisely to the Russian central bank” and that confiscating them would violate international treaties signed by both France and the EU.

French European Affairs Minister Benjamin Haddad has echoed these concerns, emphasizing that while seizing frozen assets remains a potential tool, it raises legal questions and could set an undesirable economic precedent. He also warned about the signals it could send to investors.

French Foreign Minister Jean-Noel Barrot has pointed out that billions of euros from frozen Russian assets are already being used to support Ukraine, particularly in financing reconstruction projects. However, Barrot stressed that outright confiscation could pose significant financial risks for the eurozone and the European Central Bank. He explained that weakening the economic stability of EU member states could undermine efforts to support Ukraine at a critical time.

Currently, the EU uses the interest income generated from frozen Russian assets to support Ukraine, with an estimated annual contribution of around 2.5 to 3 million euros.

The issue has caused tension between France and the UK. During a meeting with US President Donald Trump at the White House, French President Emmanuel Macron raised concerns about the legality of confiscating Russian assets. He remarked, “You can take away the proceeds of frozen assets, but you can't take away the assets themselves because this is against international law and we want to respect international law.”

By Tamilla Hasanova