Overview
- The European Commission is pursuing EU approval to repurpose €185–€210 billion in immobilized Russian sovereign assets as a conditional loan for Ukraine.
- FT reports that fund managers caution confiscation could erode property-rights protections and force a geopolitical risk premium on euro-denominated securities.
- The IMF says any action must comply with international and national law and safeguard the international monetary system, while the ECB has voiced serious legal and financial doubts.
- Belgium remains cautious over using Euroclear-held funds and is seeking concrete EU guarantees, with roughly €180 billion tied up at the Brussels-based clearer.
- Norway shows reluctance to asset seizure, according to Russia’s ambassador in Oslo, who cited precedent risks for the country’s global sovereign wealth fund.