ISTANBUL

France will provide Ukraine with 195 million euros ($211 million) in military aid using the interest from frozen Russian assets, French Defense Minister Sebastien Lecornu said.

In an interview with French newspaper La Tribune on Saturday, Lecornu said that the new aid package will support the delivery of 155-mm artillery shells and AASM gliding bombs, which will be used by Ukrainian Mirage 2000 aircraft.

The French minister added that France is also expediting the transfer of older military equipment, including tanks and armored vehicles to Ukraine.

The decision follows an October 2024 pledge by Group of Seven (G7) nations to offer nearly $50 billion in loans to Ukraine, backed by revenue generated from frozen Russian assets.

Lecornu's remarks also come shortly after the UK reached a similar agreement with Ukraine on March 1 to provide a $2.84 billion loan for defense purchases, also backed by frozen Russian assets.

Western countries have frozen roughly $300 billion in Russian assets since the onset of the war.

However, the majority of these funds remain inaccessible, with only about $3.2 billion annually available in interest to fund initiatives like the one announced by France.