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:-/
Of course, the game that gets played is tit-for-tat. Russians in possession of EU assets will do the same, and we'll get an earful of how this is illegal and violates the norms, etc. Except a flurry of lawsuits in courts that have no jurisdiction, followed by a bunch of verdicts that can't be enforced.
Meanwhile, Ukrainians will be stuck paying interest to... the EU, I guess? For a loan against Russian assets? And they'll be paying that back with what, exactly?
Smedly Butler's words ring eternal. War is, indeed, a racket.
The beauty of a loan secured against someone else's assets is that it doesn't harm you if you default. Russia could still leave Ukraine and propose how they repay Ukraine for damages, which would also cover these loans; in return, they'd receive their assets back.
Then all the reparations go to Ukraine's creditors and the countryfolk who fought to defend their homeland get it repo'd out from under them.
Repo means repossessed, which is only applicable to items purchased under a credit (e.g. you take out a credit to but a car, can't pay it, the car gets repo'd); also they only happen on unsecured loans, it'd be the security that would be transferred to the lender, which in this case is Russian, not Ukrainian.