"How can we fulfill in present conditions the deal that has been struck several years ago?" Fabius said in an interview with iTele television, referring to the current standoff between Kiev and self-proclaimed Donetsk and Luhansk people's republics in eastern Ukraine.
"The implementation of the contract is still on hold," the minister said.
French President Francois Hollande has announced that conditions for the delivery of Mistral helicopter carriers to Russia are still not right.
"The conditions [for Misral deliveries] are still not satisfied. I hope they will be one day," Hollande told reporters Thursday, after an informal summit of EU leaders in Brussels.
The leaders of Russia, Ukraine, France and Germany convened in Minsk Wednesday and early Thursday to reach a deal on Ukrainian reconciliation. The new agreement calls for a ceasefire to begin at midnight on February 15 and also demands the mutual withdrawal of heavy weapons by both sides to create a security zone.
In early December 2014, French Prime Minister Manuel Valls called any speculation about the contract's cancellation "premature."
Paris was to deliver the first helicopter carrier last November, but the delivery did not take place. Hollande said the shipment was suspended due to Russia's alleged involvement in the Ukrainian crisis.
Russia now expects France to either deliver the warships or return the money.
Russian Defense Minister Sergei Shoigu announced in January that Moscow could file a court case against France in the next six months over the failure of Paris to deliver the first Mistral ship.
According to Russian experts, Paris could face penalties as high as $10 billion if it fails to fulfill its Mistral contractual obligations.
