EU Commission Says It Is Ready to Reopen Talks on Frozen Russian Assets

Overview

• European Commissioner Valdis Dombrovskis told Euronews he is ready to bring the issue back onto the EU agenda and that he does not know which trigger would restart formal negotiations.
• The European Commission proposed legislation last year to repurpose frozen Russian assets but member states failed to agree, with Belgium repeatedly blocking the plan over fears it would shoulder legal and financial risk.
• Western states have frozen an estimated €200–300 billion in Russian assets, with reports that roughly €185 billion of that is concentrated at the Brussels-based depository Euroclear, making custody arrangements central to any reuse discussion.
• Russia has pursued legal action and warned of consequences, including a December 2025 lawsuit by the Central Bank of Russia against Euroclear and public statements from the Russian foreign ministry that using the assets would be punished.
• Recent procedural steps, including an EU court ruling that removed one legal obstacle and expert proposals to shift custody to an EU-level mechanism, have lowered some barriers but political disagreement and the risk of litigation and market fallout mean no legislative move has been taken yet.