Frozen assets fuel Ukraine aid from France, UK
French Defense Minister Sébastien Lecornu announced in an interview with La Tribune, published on March 8, that France will provide Ukraine with €195 million ($211 million) in military aid, using accrued interest from frozen Russian assets.
The official stated that the funds will enable the delivery of 155mm shells and AASM guided bombs, equipping the Ukrainian army's Mirage 2000 fighter jets. Furthermore, French authorities are accelerating the transfer of older military equipment, including tanks and armored vehicles, as reported by The Kyiv Independent.
This initiative is part of a broader Western commitment to support Ukraine, following the G7 countries' October 2024 agreement to provide Kyiv with a nearly $50 billion loan, guaranteed by revenue from frozen Russian assets.
France's announcement comes just days after the United Kingdom signed an agreement on March 1 to provide Ukraine with a £2.26 billion ($2.84 billion) loan, also financed by interest from blocked Russian assets. According to the UK Treasury, the funds will be used to purchase military equipment based on Ukraine's needs.
While Western countries have frozen $300 billion in Russian assets, they can only access the annual revenue, approximately $3.2 billion. These profits will guarantee the $50 billion loan to Kyiv, while the majority of the assets remain blocked in European countries.
France and the UK, European Leaders in Supporting Ukraine
France, one of Ukraine's staunchest supporters, is solidifying its position alongside the UK, amid strained relations between Kyiv and the Trump administration.
The former US president has repeatedly criticized European countries for not contributing enough to support Ukraine, arguing that the Biden administration has provided too much military aid to Kyiv. On March 4, Trump announced the suspension of military equipment deliveries to Ukraine, following a tense exchange with President Volodymyr Zelenskyy at the White House.
In this context, British Prime Minister Keir Starmer stated on March 2 that several European states, including the UK and France, are collaborating to form a "coalition of the willing" potentially involving "airborne aircraft and ground troops" to facilitate ceasefire negotiations in Ukraine.
According to diplomatic sources cited by Reuters on March 6, France and the UK intend to finalize a peace plan with Ukraine "within days" to present it to the United States.
Notably, Norway will also increase its financial support for Ukraine this year to approximately €7.5 billion, more than doubling its previous plan of around €3 billion. The announcement was made on Thursday, March 6, by Norway's Prime Minister Jonas Gahr Støre. He mentioned that all parties in the Norwegian parliament (Storting) agreed to intensify support for Ukraine.
Translation by Iurie Tataru
