Read that again slowly.
The European Union has frozen the sovereign assets of the issuer of the world's reserve currency.
I have taught this as a thought experiment for eleven years. I used it to illustrate why it would never happen.
EC
European Council
@EUCouncil
·20 Jan 2026 · 12:22
The European Council has adopted, unanimously, restrictive measures under Article 215 TFEU. All sovereign US Treasury holdings, Federal Reserve correspondent accounts and US government-controlled dollar clearing within E…