The widely known and reported fact that approximately 300 billion EUR of Russian assets have been frozen in the EU’s Central Securities Depositories (‘CSD’), in particular in Euroclear and Clearstream, has prompted many questions as to whether creditors with a title can take their benefit from this temporally indefinite concentration of such vast amounts at Euroclear to obtain satisfaction of their claims. This seemingly straightforward question reveals more nuanced complexities of EU restrictive measures, the role and structure of financial intermediaries and CSD, as well as pressing questions of foreign sovereign immunity and EU public policy. The paper attempts to clearly dissect the various factors that drive the analysis and to take into account the EU’s geo-economic context and (public) policy interests.