France, the second-largest holder of the Bank of Russia's frozen assets in the European Union, refuses to inform the European Commission of the names of commercial banks where these funds are held. This concerns about 18 billion euros,writesFT.
This information has become critically important in the context of the European Commission's development of a plan to provide Ukraine with a reparation loan.
Despite France supporting the idea of aid to Ukraine, Paris opposes a scheme that involves using funds frozen specifically in commercial banks.
Paris refuses to disclose the names of French banks holding €18 billion belonging to the Russian government. French officials insist that commercial banks have different contractual obligations than the Euroclear depository, the article states.
Previously, the European Commission proposed using frozen Russian assets to provide Ukraine with an emergency loan of 210 billion euros.
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