"Frozen assets are financial funds or property that the owner cannot access or use for any transaction or transfer because of restrictions imposed by a government or bloc such as the European Union. In Russia's case, 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. Assets are usually frozen via sanctions."
"Out of a total of around 300 billion in frozen assets, around 210 billion 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. What is Euroclear, and why is it against the EU using Russia's assets? Euroclear is a major financial-market infrastructure firm, called a securities depository."
Frozen assets are funds or property blocked from owner access due to government or bloc restrictions. In Russia's case, sovereign cash, bonds, securities held abroad and private assets like yachts and real estate owned by sanctioned billionaires were frozen under sanctions after the 2022 invasion. Financial institutions such as commercial banks and central securities depositories implement freezes by blocking transactions and cutting off access. Roughly $300 billion is frozen worldwide, about $210 billion under EU jurisdiction and $180 billion held at Euroclear in Belgium. Euroclear fears reputational damage and potential litigation; Russia's central bank has opted to sue for 230 billion.
Read at www.dw.com
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