Frozen Russian assets are Russian state-owned funds and other assets that Western countries immobilised following Russia’s full-scale invasion of Ukraine in February 2022. They include funds belonging to Russia’s Central Bank.

Immobilisation restricts access to the assets; it is distinct from permanently confiscating them. Proposals to confiscate frozen assets to help pay for Ukraine’s reconstruction have been made, but the legality of expropriation remains disputed.

In the news context, EU foreign policy chief Kaja Kallas said the assets should not be returned unless Russia pays reparations to Ukraine. EU leaders have also discussed whether immobilised assets could support Ukraine.