Face-off In France: Pro-Russia Le Pen Goes Up Against Putin-Critic Macron 2

Macron takes the lead, Le Pen seconds

With the first round results of the French (EWQ) presidential elections now out, En Marche candidate Emmanuel Macron has taken the lead with 23.86% of the 97% votes counted on April 23, seconded by Marine Le Pen of the National Front with 21.43% votes. Republican Francois Fillon, Jean-Luc Melenchon of the La France Insoumise, and Socialist Benoit Hamon secured 19.94%, 19.62%, and 6.35% of votes, respectively.

Putin-Critic Macron vs Pro-Russia Le Pen

Accordingly, Macron and Le Pen are through to the second round to be held on May 7. What makes it interesting is that the two candidates differ markedly on their visions for France, as well as their stance on Russia (RSX) (RUSL) (ERUS) (RSXJ), Europe (VGK) (FEZ), and immigration, among others.

SubjectEmmanuel MacronMarine Le Pen
  • Pro – European Union
  • calls for closer integration between countries
  • Wants France to exit the EU
  • envisages a Frexit (France exiting EU)
  • Putin-critic
  • intends to retain pressure on Russia
  • Pro-Russia
  • Advocates closer ties with Russia
  • criticized EU sanctions on Russia
  • Against closing borders
  • stricter controls on immigration
  • To limit immigration
  • to withdraw from the Schengen
  • Believes it is “not a moment to doubt the EU”
  • emphasizes the need to protect French citizens with solidarity with the EU
  • Criticizes NATO
  • wants to take France out of its integrated military command
  • to cut corporate tax rates gradually to 25% from 33% at present
  • cut housing tax
  • reform wealth tax
  • big economic stimulus to radically transform the French economy
  • cut income taxes for the poorest workers
  • simplify tax rules and fight tax evasion
  • envisages an independent France and
  • a new, lower-value currency, the “nouveau franc”


- Advertisement -

A face-off between these candidates on May 7th, therefore, implies Russian equity either soars or slumps. While a Le Pen victory should bode well for Russian markets, a Macron victory could ring warning bells for the economy — especially its oil and gas industry — as discussed next.

- Advertisement -