Under the scheme, artists who qualified and their families would be offered three-month residencies, the culture ministry said in a statement.
The fund would also in part cover grants for research or performances.
France’s Culture Minister Roselyne Bachelot this week said France would help Russian artists “forced into exile”.
She also said rallies by Russian cultural institutions or artists backing Russian President Vladimir Putin had been cancelled or postponed.
Nearly 2.6 million people have fled Ukraine in a little over two weeks since the invasion, the United Nations says.
Of those, France says it has welcomed 10,000 Ukrainian refugees.
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