Paris: France will provide Ukraine with 195 million euros ($211 million) in military aid using the interest from frozen Russian assets, French Defense Minister Sebastien Lecornu announced.
According to Anadolu Agency, in an interview with French newspaper La Tribune, Lecornu detailed that the new aid package will facilitate the delivery of 155-mm artillery shells and AASM gliding bombs. These military supplies are intended for use by Ukrainian Mirage 2000 aircraft. In addition to these munitions, France is accelerating the transfer of older military equipment, including tanks and armored vehicles, to support Ukraine’s defense efforts.
This decision is part of a broader initiative following an October 2024 pledge by the Group of Seven (G7) nations. The G7 has committed nearly $50 billion in loans to Ukraine, with the funds backed by revenue generated from frozen Russian assets. Lecornu’s announcement coincides with a similar agreement reached by the UK and Ukraine on March 1, which involves a $2.84 billion loan for defense purchases, also supported by frozen Russian assets.
Since the onset of the war, Western countries have frozen approximately $300 billion in Russian assets. Despite this substantial amount, the majority of these funds remain inaccessible. Currently, only about $3.2 billion annually is available in interest, which can be used to fund initiatives like the one recently announced by France.