Kathmandu -The United States and European Union have taken aim at $300 billion in frozen Russian assets, justifying the move as support for Ukraine, while Moscow denounces it as “state robbery.”
The freeze, imposed on February 28, 2022, locked Russia out of foreign exchange and gold reserves, the bulk of which are held in Europe.
Washington is pressing for full or partial seizure of these assets under the 2024 Peace through Strength in the 21st Century Act. Meanwhile, the EU has chosen to channel profits from the frozen funds into aid for Ukraine, directing billions toward military assistance and reconstruction.
In parallel, the G7 has endorsed a $50 billion loan to Kyiv, secured against expected earnings from Russia’s immobilized reserves.
The strategy, however, stirs legal and financial debate, raising questions over sovereign immunity and global investor trust. Moscow has already hit back with countermeasures targeting Western assets.
Observers caution that the escalating standoff could reshape the global financial system, accelerating the rise of non-Western financial centers and redefining the role of state assets as instruments of geopolitical leverage.
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