Russia's frozen assets everything you need to know DW 12/17/2025

"Frozen assets are financial funds or property that the owner can not access or use for any transaction or transfer, due to restrictions imposed by a government or bloc like the EU. In Russia's case, both its sovereign assets in the form of cash, bonds and securities held abroad as well as private assets such as yachts and real estate owned by sanctioned Russian billionaires, were frozen."

"The implementation of the freezes lies with financial institutions, such as commercial banks or central securities depositories (CSDs) which must block transactions and cut off access to frozen assets, Agathe Demarais, Senior fellow at the European Council of Foreign Relations (ECFR), told DW. Russian assets were frozen as a result of Western sanctions after it invaded Ukraine in 2022. The move was intended to constrain Russia financially and ensure it couldn't use that money to fund the war."

"Out of a total of around 300 billion in frozen assets, around 210 worth of assets are held under EU Member States' jurisdictions. The rest are scattered across the US, Japan, the UK, Switzerland, and Canada. But the largest chunk 180 billion is at an institution called Euroclear in Belgium. Euroclear is a major financial-market infrastructure firm called a securities depository. Euroclear is worried that seizing Russian money will damage its reputation among international investors and could even trigger litigation by Moscow."

Frozen assets are financial funds or property that the owner cannot access or use for transactions or transfers due to restrictions imposed by a government or bloc like the EU. In Russia's case, sovereign assets in cash, bonds and securities held abroad as well as private assets such as yachts and real estate owned by sanctioned billionaires were frozen. Freezes are implemented by financial institutions, such as commercial banks or central securities depositories, which must block transactions and cut off access. Around 300 billion of assets were frozen after the 2022 invasion, roughly 210 billion under EU jurisdictions and about 180 billion at Euroclear in Belgium. Euroclear fears reputational damage and potential litigation, and Russia's central bank has decided to sue to recover frozen funds and lost interest. Several European countries want Russia to pay for damages caused.

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