Under the current EU sanctions framework, there's an interesting loophole for major financial institutions. Central securities depositories operating in the bloc—like Euroclear—have the ability to offset any frozen or seized assets they hold in Russia by using immobilised Russian assets already locked down within EU territory. Essentially, it's a countermeasure that lets these institutions balance their books when sanctions create asset freezes. This mechanism has become increasingly relevant for institutional players managing cross-border positions and collateral arrangements, especially as geopolitical tensions continue reshaping how we think about asset custody and settlement infrastructure.