A group representing French holders of czarist bonds says it will sue Russia in a bid to seize Paris property bought by the Kremlin and reclaim part of a century-old debt valued at as much as €100bn.

The International Federative Association for Russian Bond Holders will take legal action against Russia, AFIPER Director Eric Sanitas said in an interview. He spoke after the Budget Ministry in Paris announced in an e-mailed statement yesterday the sale of the Meteo France building near the Eiffel Tower to Russia for an undisclosed sum.