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French Parliament Pushes EU to Seize Frozen Russian Assets for Ukraine Aid

Lawmakers passed a non-binding resolution urging asset seizures to support Ukraine, though the French government remains cautious over legal and economic implications.

The draft resolution encourages the European Union to use the frozen Russian assets 'to support the Ukrainian resistance and reconstruction of Ukraine'

Overview

  • The French National Assembly voted in favor of a resolution calling on the EU to seize Russian assets frozen since the 2022 invasion of Ukraine to aid reconstruction and military support.
  • The resolution, which is non-binding, highlights divisions within French politics, with far-right and hard-left parties opposing the measure.
  • France has historically resisted asset seizures, citing concerns over international law and potential impacts on investor confidence, though officials are now reevaluating the stance.
  • The resolution also encourages the EU to accelerate Ukraine's accession process and develop independent European defense capabilities.
  • Currently, income from frozen Russian assets is being used to support Ukraine, generating between €2.5 billion and €3 billion annually.