ATLAS — Europe, the EU & Russian Frozen Assets: Short-Sighted or Necessary? Reports are circulating that European Union leaders are moving toward using an estimated $300 billion in frozen Russian assets—held in European banks—to support Ukraine’s war effort. Whether this involves direct seizure of the principal or only using interest generated from those assets, the implications are serious and long-reaching.Why This Matters Beyond Russia One of the core pillars of the global financial system is that assets held in foreign nations—especially central bank reserves—are protected under international law. If the EU breaks that precedent, it sends a message to every...