The EU’s 22nd September sanctions deadline is not a countdown to releasing Russia’s roughly €210 billion in central-bank reserves. On 15th September, the EU extended its individual sanctions framework by just 7 days. That framework targets listed people and organisations. The central-bank reserves sit under different restrictions. The separate sectoral sanctions run to 31 July 2027. A further measure adopted in December 2025 prohibits transfers of immobilised Russian central-bank assets back to Russia. That measure is temporary and tied to continuing economic risks. A missed renewal would raise serious questions about the individual sanctions. It would not, by itself, switch off these separate restrictions on the central-bank money. The 22nd September deadline remains subject to another renewal. No lapse has occurred.