The French government has raised concerns over the potential confiscation of frozen Russian assets in Europe, fearing it could have negative consequences for investor confidence.
As reported by BFMTV, Minister for European Affairs Benjamin Haddad voiced these concerns, warning that such a move could “create a precedent” that might deter future investment.
“We have always said that this is one of the levers we have in our ‘power struggle’ with Russia. But there are still legal caveats, and the issue of creating an economic precedent, the message that will be sent to investors, remains,” the minister stated.
“But indeed, this is one of the levers that we can consider,” Haddad added.
While the European Union has already begun using the income from frozen Russian assets to fund various types of aid to Ukraine, the idea of outright confiscation has been approached with caution due to legal complexities. Former French prime minister and current leader of the Macron bloc in parliament, Gabriel Attal, has expressed support for the confiscation, while Foreign Minister Jean-Noël Barrot warned that it poses “too great a financial risk.”
