# Sovereign Reserves Lose Their Immunity

Each Western step toward using or seizing frozen central-bank assets raises the perceived confiscation risk of holding reserves in Western custody, so reserve managers outside the Western alliance will keep shifting toward gold and non-Western custodians.

- Conviction: 40 / 100 (forming)
- Horizon: Emerging (watchlist)
- Tracking since: 2026-10-16T00:00:00.000Z
- Last updated: 2026-10-16T06:34:23.717Z
- Canonical: https://polylog.news/trends/frozen-reserves-weaponization
- Publisher: Polylog
- Affected regions: Global

## Recent evidence

- [confirms] EU revives debate on confiscating frozen Russian assets as Belgium maintains its objection before the October 23-24 summit (2026-10-16): The EU has revived debate on confiscating frozen Russian central-bank assets ahead of the October 23-24 summit, though Belgium maintains its objection. Even a stalled push puts outright seizure back on the agenda, which raises perceived confiscation risk for non-Western reserve managers.