Confiscation and use of Russia’s frozen assets to support Ukraine could scare off investors – Macron
French President Emmanuel Macron believes that confiscating Russia’s frozen assets could scare off investors.
As reported by Censor.NET, citing European Pravda, Macron made the remarks ahead of the EU summit in Copenhagen.
Macron insisted that confiscating Russia’s frozen assets and using them to support Ukraine risks undermining trust in European financial institutions and could alarm investors.
EU leaders are expected to discuss creative ways to finance a new loan for Ukraine. One option could be to raise funds through new eurobonds guaranteed by EU countries, instead of directly using the nearly €200 billion in Russian assets frozen after Moscow’s full-scale invasion of Ukraine and held mostly at Brussels-based Euroclear.
According to Macron, raising cash on financial markets by issuing new debt guaranteed by the EU and national budgets is "a very good thing" compared to confiscating Russian assets.
Earlier this week, an Élysée Palace official said that France was interested in such an option provided the burden of the loan would be shared equally, and only if it did not affect France’s public finances, which are in dire condition.
