At the beginning of 2024, Saudi Arabia privately hinted that it might sell some European debt holdings if the Group of Seven decided to confiscate nearly $300 billion in frozen Russian assets, according to Bloomberg. According to agency sources, the Saudis specifically mentioned debt issued by the French Treasury. In May and June, the G7 explored various options for using the frozen funds of the Russian central bank for Ukraine’s benefit. Ultimately, the group decided not to touch the assets themselves but to use the profits generated from them, despite the US and the UK urging allies to consi…