Macron Issues Warning on Confiscating Russian Assets
(MENAFN) French President Emmanuel Macron has rejected the notion of confiscating frozen Russian funds, cautioning that such an action might backfire on Western nations and destabilize international order.
In a discussion with a broadcaster on Sunday, Macron was questioned about the $300 billion in Russian state-owned reserves that were blocked after the escalation of the Ukraine war 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 head of state stated, 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,” he continued, noting that Ukraine’s allies are already relying on the profits from the frozen reserves to sustain Kiev.
Since the outbreak of the conflict, Western officials have weighed the possibility of appropriating Russian holdings – most of which are under the control of the European Union – yet have held back, citing the absence of legal grounds and concerns that such a move could erode worldwide confidence.
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