France will finance military equipment and ammunition for Ukraine using 300 million euros ($324 million) of interest from Russia’s frozen assets.
This includes 12 Caesar self-propelled howitzers, 155mm artillery ammunition, Aster surface-to-air missiles, Mistral man-portable anti-aircraft systems, and AASM guided bombs, French Defense Minister Sebastien Lecornu said.
“We are mobilizing the interests of frozen Russian assets to purchase military equipment for Ukraine,” French broadcaster BFMTV quoted the minister as saying.
“By the end of 2024 alone, France will have returned 300 million euros.”
French Aid to Ukraine
Apart from this initiative, France’s military aid to Ukraine this year is set to fall short of the 3 billion euros ($3.25 billion) pledged during a bilateral security deal earlier this year.
According to Politico, the shortfall is attributed to the need to reduce France’s budget deficit, which could reach 6 percent of GDP in 2024.
France provided 1.7 billion euros ($1.84 billion) in military aid to Ukraine in 2022 and 2.1 billion euros ($2.7 billion) in 2023.
A total of 67 Caesar systems have been delivered to Ukraine, according to Paris.