Name: EU triggers emergency clause to indefinitely immobilise Russian assets
Uploaded: 2025-12-11T20:31:41.317Z
Duration: 1 min 39 s
Description: The EU has decided to keep the assets of the Russian Central Bank immobilised for the foreseeable future. The ban, which is based on a provision for economic emergencies, pushes back against external attempts to release the €210 billion in assets before Ukraine is compensated.

The EU has decided to keep the assets of the Russian Central Bank immobilised for the foreseeable future. The ban, which is based on a provision for economic emergencies, pushes back against external attempts to release the €210 billion in assets before Ukraine is compensated.

Moscow

Russian forces have invaded Ukraine from land, air and sea with strikes causing widespread damage. Global leaders have condemned the move and imposed sanctions.

Ukraine Invasion

The European Union has triggered an emergency clause to indefinitely freeze Russian central bank assets, totaling an estimated 300 billion euros across G7 countries. The majority of these funds, around 185 billion euros, are held in Belgium by EuroClear. 

The EU's decision comes in response to a US peace plan proposing to split the assets into two investment vehicles: one for Ukraine's reconstruction and another as a US-Russian joint venture. The US plan would see Europe contributing additional funds and sharing profits, while also providing commercial opportunities for Russia. This has raised concerns in Brussels about losing leverage and facing increased financial responsibilities.

EU triggers emergency clause to indefinitely immobilise Russian assets

You don't have the cards. That is what Donald Trump told President Zelensky earlier this year. But Brussels thought it held an ace – the frozen Russian assets. Now the 28-point US peace plan has called out Europe's hand. And the pot is massive. Estimated 300 billion euros in Russian central bank assets are frozen across the G7 countries. The vast majority – 185 billion euros – is locked right here in Belgium by EuroClear, a securities depository. Brussels planned to use the Russian frozen assets to issue an unprecedented reparations loan for Ukraine. But the US plan flips the script with a controversial proposal – unblock the funds and split them into two investment vehicles. Fund number one for Ukraine's reconstruction – 100 billion dollars of the frozen assets would be deployed and Europe would have to front another 100 billion of its own cash. The catch? The US takes 50% of the profits. Fund number two – a US-Russian joint venture. The rest of the money will be invested in projects for Moscow. Far from paying reparations for attacking its neighbour, the Kremlin is rewarded with a commercial opportunity. The result? Moscow gets a win, Washington flips the profits and Europe loses its main leverage. Brussels is nuts at the table. And it may end up reduced to a spectator with a very expensive bill to pay.

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EU triggers emergency clause to indefinitely immobilise Russian assets

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