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Confiscation of frozen Russian assets to erode EU’s financial stability — French minister

Confiscation of assets of other country’s central banks does not conform to international rules, the minister noted

PARIS, March 11. /TASS/. Confiscation of Russian frozen assets and their use for supporting Ukraine will threaten the European Union’s financial stability, French Minister of the Economy, Finance, and Industrial and Digital Sovereignty, Eric Lombard, said following a meeting of finance ministers of EU countries in Brussels.

"Confiscation without legal reasoning may create risks for European financial stability," Lombard was quoted as saying by the AFP agency.

Confiscation of assets of other country’s central banks does not conform to international rules, the minister noted.

French Government Spokesperson Sophie Primas said earlier that confiscation of frozen Russian assets would cause problems in the French economy and become a violation of international law.

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