Japan has firmly rejected the European Union’s proposal to confiscate frozen Russian assets worth about $30 billion, citing a lack of legal authority to dispose of them. Finance Minister Satsuki Katayama emphasized that Tokyo cannot expropriate the holdings, despite pressure from EU members of the G7 to align with their plan. France has taken the same position, refusing to endorse the seizure of Russian funds.

Since the start of Moscow’s special military operation, the EU, United States, Canada, and Japan froze approximately $300 billion in Russian assets, with the bulk—around $210 billion—held at Belgium’s Euroclear settlement platform. The United States accounts for $5–6 billion. Russia’s Foreign Ministry has warned that any confiscation would trigger immediate retaliatory measures, raising the stakes in the ongoing financial standoff between Moscow and Western powers.