“We will respect international law and do not do impossible things.” Macron opposes a measure directly targeting Russia's central bank money

The confiscation of frozen Russian assets would be a violation of international law, says French President Emmanuel Macron, in an interview with the American television station CBS News.

At the beginning of the large -scale Russian invasion of 2022, the countries of the group of seven (G7) froze about $ 300 billion in the assets of the Russian central bank, about two thirds being in the custody of the largest depositary in Europe, the Belgian financial institution.

The European governments and the countries of the G7 group have explored ways to generate incomes from these fixed funds without directly confiscated them, the extent that they risk having legal and political branches, notes The Kyiv Independent.

“You cannot confiscate these assets of the Central Bank (of Russia) even in such a situation. And I think it is a matter of credibility and it is very important for our countries to remain … and to respect the international laws,” said Macron.

“So, we will respect international law. We are predictable and we will not do impossible things with these frozen assets,” the French leader insisted, in the interview at CSB News, broadcast on Sunday, September 21.

Brussels has so far hesitated to confirm the assets due to the potential tax and legal traps. Instead, it uses the profits generated by assets to finance the defense and reconstruction of Ukraine through the G7 loan worth $ 50 billion and a separate EU program.

In recent months, there have been more and more EU calls to follow more radical ways to use profits for the benefit of Ukraine, such as more risky investments.

Earlier during September, the President of the European Commission, Ursula von der Leyen, said that the EU is considering granting Ukraine a repair loan funded from cash balances associated with frozen Russian assets.

At the end of August, the head of European diplomacy, Kaja Kallas, told Copenhagen that it is impossible to imagine that Russia will receive its frozen assets inside the Community block if Moscow does not pay damages.

“We cannot imagine that, if there was a cessation of fire or a peace agreement, these assets will be given back to Russia if it does not pay damages,” Kallas said before an informal meeting of Foreign Ministers in the EU, organized by the Danish presidency of the EU Council, according to Reuters.

The European Union states that Russian assets worth 210 billion euros are frozen inside the Community block, according to the sanction regime imposed on Moscow for the invasion of Ukraine.

Ukraine and some EU states, including Poland and Baltic countries, have asked the Community Bloc to confirm the respective assets and use them in support of Kiev. However, this call was rejected by France, Germany and Belgium.