Euroclear

Euroclear is a financial institution based in Brussels that holds approximately €197 billion of sanctioned Russian assets. The EU has frozen these assets indefinitely due to Russia's threats to retaliate against Euroclear, which could be used to aid Ukraine's defense. Recent developments include the EU's decision to use emergency powers to immobilize the assets and Russia's lawsuit against Euroclear in a Moscow court. This move is significant as it marks a potential make-or-break moment for Europe in its support for Ukraine, with the frozen assets potentially being used to fund military and economic needs. The current relevance of this issue lies in its potential impact on international relations and global security.