France Allocates €300 Million from Frozen Russian Assets for Military Support to Ukraine
France will be financing military equipment and ammunition for Ukraine with €300 million ($324 million) derived from interest on frozen Russian assets, as announced by French Defense Minister Sebastien Lecornu. This significant contribution includes 12 advanced Caesar self-propelled howitzers, 155mm artillery shells, Aster surface-to-air missiles, Mistral portable anti-aircraft systems, and AASM guided bombs.
In an interview with French broadcaster BFMTV, Lecornu emphasized the initiative, stating, “We are mobilizing the interests of frozen Russian assets to purchase military equipment for Ukraine.” He also confirmed that by the end of 2024, France aims to have returned the full €300 million to bolster Ukraine’s defense capabilities.
This new funding initiative comes amidst a backdrop of fiscal constraints, as France’s military aid to Ukraine in 2023 is projected to fall short of the pledged €3 billion ($3.25 billion) due to efforts to curb the national budget deficit, which is expected to reach 6 percent of GDP in 2024. In contrast, France had previously provided €1.7 billion ($1.84 billion) in military assistance to Ukraine in 2022 and €2.1 billion ($2.7 billion) in 2023.
Since the onset of the conflict, a total of 67 Caesar artillery systems have been delivered to Ukraine by the French government, highlighting ongoing support for the country’s defense amid the ongoing conflict.
