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EU may decide on Russian assets on December 18, French foreign minister says

Jean-Noel Barrot noted that European countries "intend to protect Ukraine from financial difficulties in the next two years if the conflict continues"

French Foreign Minister Jean-Noel Barrot Jessica Lee - Pool/Getty Images

French Foreign Minister Jean-Noel Barrot

© Jessica Lee - Pool/Getty Images

PARIS, November 29. /TASS/. The EU countries may decide on the frozen Russian assets on December 18 at a summit in Brussels, said France's Foreign Minister Jean-Noel Barrot.

"The number one priority is to guarantee the blocking of Russian assets in Europe. This is a significant lever that will allow us to influence the parameters of the future world," the minister said in an interview with La Tribune Dimanche weekly. "All this will be the subject of discussions in the coming days, which, I hope, will lead to a decision at the European Council meeting on December 18."

He said that European countries "intend to protect Ukraine from financial difficulties in the next two years if the conflict continues."

Earlier, the Financial Times reported that Belgian Prime Minister Bart De Wever said in a letter to European Commission President Ursula von der Leyen that a rapid completion of the European Union's plan to use frozen Russian assets to finance Ukraine would destroy the chances of signing a potential peace agreement. According to it, De Wever's objections were prepared for the upcoming EU summit on December 18-19, where the leaders should determine a further approach to supporting Kiev.

On Thursday, the Belgian company Euroclear warned that the use of frozen Russian assets to fund Ukraine could boost EU debt and scare off investors. Russian ambassador to Belgium Denis Gonchar said earlier in an interview with TASS that regardless of the scheme by which the expropriation of assets may occur, this would be theft. He warned that Russia's response would "follow immediately" and force the West to "count the losses."

The EU and the G7 countries have frozen about 300 billion euros worth of Russia's gold and foreign exchange reserves. 180 billion euros are held on Euroclear accounts. In 2025, the EU transferred 18.1 billion euros to Ukraine from the proceeds from the assets.

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