French diplomat believes Kiev should buy EU weapons with loans financed by Russian assets
Benjamin Haddad admitted that the confiscation of Russian assets, frozen by Euroclear, would constitute a violation of the international law, however, in his opinion, using the money for securing loans to Ukraine should not be considered as such
PARIS, November 16. /TASS/. The money from loans, which the European Union plans to provide to Ukraine from incomes generated by Russia’s immobilized sovereign assets, should be directed by Ukraine for purchases of European weapons, French Minister Delegate for Europe Benjamin Haddad said.
"We always stick to the principle of priority of European supplies. In other words, the money should be directed to the purchase of weapons - notably, European weapons - to bring our defense sectors closer, because it is in the interest of both partners to make sure that cooperation between the defense sectors of Europe and Ukraine is as close as possible," he told the LCI television.
Haddad admitted that the confiscation of Russian assets, frozen by Euroclear, would constitute a violation of the international law. However, in his opinion, using the money for securing loans to Ukraine should not be considered as such.
Most of Russia’s €210 billion in sovereign assets frozen in Europe are blocked at the Euroclear platform in Belgium, which fears it would bear the impact of any Russian retaliatory measures. Earlier, Russian Ambassador to Belgium Denis Gonchar told TASS that expropriating Russian assets under any scheme would be considered "theft." He warned that Russia’s retaliation "would be immediate" and force the West to "reckon with its losses."
The EU states continue to discuss ways of further financing Ukraine, including the possibility of granting Kiev a "reparation loan" by seizing frozen Russian assets. At the EU summit on October 23, Belgium blocked the European Commission’s plan to expropriate Russian assets to provide Ukraine with the so-called reparation loan, fearing retaliation from Russia. Belgium demanded legal guarantees that any financial losses would be distributed among all countries of the bloc. The EU summit postponed the decision on this issue until December and instructed the European Commission to prepare various lending options to Ukraine for 2026-2027. The European Commission press service has repeatedly stated that expropriating Russian assets remains a priority.