France opposes seizure of Russian assets from private banks
8 December 12:14
France has refused to withdraw Russian assets frozen in private banks in order to provide them as a loan to Ukraine. This was reported by the Financial Times newspaper, citing sources, "Komersant Ukrainian" reports.
The newspaper notes that private banks are subject to different contractual obligations, unlike the Belgian depository Euroclear. A French official told the FT that the country’s credit institutions are unwilling to participate in discussions on the possibility of transferring Russian assets to Kyiv.
Currently, about 18 billion euros of Russian assets are held in private bank accounts in France, the second highest figure in Europe. In Belgium, which is the leader in the storage of Russian assets, about €7 billion is held in accounts with commercial credit organizations.
European Commission spokesman Olof Gill told the FT that it is impossible to list the names of banks that hold Russian assets, as “it would be like doctors discussing medical records in public.”
