French presidential candidate Francois Fillon said Thursday he did not believe Russia was a "significant" threat to Europe, during a speech at his campaign headquarters.

On April 23, French voters will cast ballots in the first round of the presidential election. Current opinion polls indicate Fillon is not likely to make it into the May runoff.

"I don’t think Russia poses a significant military threat to Europe, but Islamist terrorism does," the conservative from The Republicans party said at a press conference in Paris.

Fillon saw his chances to win slump after he was placed under formal investigation last month on suspicion of diverting public funds by arranging for his wife and two children to work as his assistants without allegedly carrying out their duties.