EU makes key move on Ukraine: France hails decision to freeze Russian assets indefinitely

France has welcomed a major European Union decision to freeze some €200 billion in Russian assets held in Europe for as long as necessary, calling the move “important” and a potential game-changer in the war in Ukraine.

Freezing roughly €200 billion of Russian assets across Europe “for as long as needed” is an important decision taken by the European Union, French Foreign Minister Jean-Noël Barrot said on France Info Friday morning.

What we want is security for Europe and for Europeans,” Barrot said, stressing that the measure aims to both influence the course of Russia’s aggression and accelerate peace.

According to the French government, the assets will remain frozen until Russia ends its war of aggression and pays reparations to Europe. Barrot added that the move also prevents non-Europeans — alluding to discussions in the U.S. under the Trump administration about using the funds for American business investment — from deciding the fate of these funds on behalf of Europeans.

The decision to make the sanctions framework permanent, which enables the indefinite freeze, was agreed Thursday by all 27 EU member states, the Danish EU Presidency said. This agreement is now being formalized through a written procedure.

The move opens the door for further financial support for Ukraine, including a major funding package currently under intense negotiation in Brussels. According to Barrot, the package could be finalized by the end of next week and would protect Ukraine financially for at least two years should the war continue.

EU leaders are set to meet in Brussels on 18 December to discuss the broader financing plan for Ukraine, including potential use of the frozen Russian assets. So far, Belgium — where most of the Russian central bank assets are held — has expressed resistance, with Prime Minister Bart De Wever unwilling to shoulder the risks without strong guarantees from other EU states.