The potential seizure of frozen Russian assets in the United States could push major holders of U.S. government debt to rethink their portfolios. In recent discussions, analysts cited by RIA News highlighted a shift that may begin with large-scale investors reassessing risk in the American debt market.
Among the observations is the possibility that sizable buyers of U.S. securities, including major Gulf states such as Saudi Arabia, might start diversification away from American instruments. Lev Sokolshchik of the Center for Comprehensive European and International Studies at the National Research University Higher School of Economics notes that altering asset structures will face practical hurdles due to political and policy friction with Washington.
Experts also argued that asset seizures could accelerate fragmentation within the global financial system and spur consideration of alternative settlement currencies for major transactions, potentially diminishing the dollar’s central role in some cross-border payments.
There is broad caution about legal grounds for an international reserve withdrawal. Participants reminded readers that a Senate committee vote signals the start of a lengthy legislative process, with many steps still ahead before any action becomes law.
Some industry voices warn that Russia might respond by targeting the assets of hostile foreign entities on its territory, which could include domestic banking interests, in what they see as a strategic countermeasure to external financial pressure.
In discussions across European capitals, there was no consensus on how to proceed with Russia’s frozen assets, underscoring the political complexity and the diverging national interests at play among the EU members.
Observers note that the concept of rapid asset transfers, even when framed as a form of justice, faces significant practical and legal obstacles and may not unfold as quickly as some headlines suggest. The overall trajectory will depend on many moving parts, including policy responses, international cooperation, and the evolving landscape of foreign-exchange markets.