Overview

• Bloomberg, citing unnamed sources, reports Berlin has shifted from caution to supporting efforts to maximize returns from immobilized Russian sovereign reserves.
• EU finance ministers are expected to take up the issue in Copenhagen this week, with leaders set to decide at the Oct. 23–24 summit.
• The shift is linked to fears that a drop in U.S. support under President Trump could leave Germany carrying a larger financial burden, according to the reports.
• About $300 billion in Russian central-bank assets were frozen in 2022, with roughly two-thirds held at Euroclear in Belgium.
• Current measures include the G7’s Extraordinary Revenue Acceleration mechanism, which provided a $50 billion loan to Ukraine financed by windfall profits from the frozen assets.