EU cannot buy SPY, but can trade options. What if assigned from puts? Cannot sell?

Hey,

as EU citizen, I cannot buy in IB many US ETFs, e.g. SPY or QQQ. However, I'm able to trade options on these… What if I get assigned from ITM short puts? I'll receive SPY or QQQ which I cannot buy, so I guess sell either… What's then? Settlement will be on cash basis, ETFs will just on my account or… I can make wheel and sell covered calls…. ?

Thanks!