Macron: Even in such a situation, we cannot confiscate the assets of the Central Bank of the Russian Federation

French President Emmanuel Macron said that the European Union cannot confiscate frozen Russian assets. In an interview with CBS News, he explained that compliance with international law is critical to preserving the world order – because if Western countries start breaking the law, it will lead to complete chaos.

"As for the frozen assets, we are bound by international rules. We cannot confiscate the assets of the central bank even in such a situation. This is a matter of trust," he said .

"So we will respect international law. We will not do any impossible things with these frozen assets," Macron said .

At the same time, he reminded that the proceeds from frozen Russian assets are already being used to finance assistance to Ukraine.

The frozen assets of the Russian Central Bank amount to about $300 billion. Most of this money is in Europe, particularly in Belgium, where the Euroclear securities depository holds 194 billion euros.

The EU promised not to give this money to Russia, until it pays Ukraine reparations .

• The EU is currently discussing the possibility of providing Ukraine with a reparations loan. No details of this idea have been disclosed so far, except for the assumption that Ukraine would repay the money only after receiving reparations from Russia, and that the risks associated with the loan would be shared among EU countries.
• European officials involved in the discussions say unofficially that the idea involves replacing Russian assets held in Europe with interest-free bonds issued by the European Commission. The bonds would be guaranteed either by all EU countries or only by those who agree to participate.
• Government guarantees are a politically risky element, as Russia could make claims if sanctions are lifted.