France to use frozen Russian assets to purchase arms for Ukraine

France will use frozen Russian assets to purchase arms for Ukraine.

The Ministry of Armed Forces of France reported on this.

Thus, by the end of 2024, France will use €300 million in revenue from Russian assets to finance the purchase of military equipment for Ukraine from its own industry.

First of all, priority equipment and weapons will be purchased, namely ammunition, artillery and air defense systems.

France will participate in the implementation of a new program of support for Ukraine within the framework of the European Peace Fund.

The program provides for the use of €1.4 billion from proceeds of Russian assets to provide Ukraine with necessary weapons to defend its territories.

In addition, the document states that the program is an opportunity for France and the French defense industry to increase the number of weapons that Ukraine can receive and to continue the active development of the French defense industry amid the war.

It should be noted that the French defense industry has recently received a major boost in production expansion due to a large number of orders.

First of all, great success is seen in the export of Caesar self-propelled howitzers and Rafale fighter jets. In addition, France is significantly increasing the production of 155 mm artillery ammunition, which Ukraine and other export customers receive.

Militarnyi previously reported that the French company Thales would increase the production of mortar rounds four times.

The company said that by 2026 their plant should’ve produced 80 thousand 120mm mortar rounds per year.