Overview
- Financial Times reports that France supports a conditional reparations loan to Ukraine but will exclude funds frozen in French private banks from the scheme.
- About €18 billion of Russian sovereign assets are held in French commercial banks, with specific custodians not officially disclosed.
- Roughly €210 billion of Russian assets are frozen in Europe, including about €185 billion at Euroclear that officials consider easier to target.
- An EU Commission spokesman said details on where the assets sit are sensitive and noted some private banks may owe interest to Russia under their contracts.
- Sources cited by FT say French banks are reluctant to join discussions, with some holdings reportedly concentrated at BNP Paribas, and Russia has warned against any asset appropriation.