diff --git a/ir/memory.cpp b/ir/memory.cpp
index e6bfef0e4..971dfc7d0 100644
--- a/ir/memory.cpp
+++ b/ir/memory.cpp
@@ -2370,6 +2370,15 @@ Memory::refined(const Memory &other, bool fncall,
     Pointer q(other, p());
     if (p.isByval().isTrue() && q.isByval().isTrue())
       continue;
+
+    // In assembly mode we verify each function individually and
+    // global constants are not validated (assumed to be correct).
+    // Hence we may not have all initializers if tgt doesn't reference them.
+    if (other.isAsmMode() &&
+        is_constglb(bid) &&
+        isInitialMemBlock(other.non_local_block_val[bid].val))
+      continue;
+
     ret &= (ptr_bid == bid_expr).implies(blockRefined(p, q, bid, undef_vars));
   }
 
diff --git a/tests/alive-tv/asm/const-delete.src.ll b/tests/alive-tv/asm/const-delete.src.ll
new file mode 100644
index 000000000..e85484b22
--- /dev/null
+++ b/tests/alive-tv/asm/const-delete.src.ll
@@ -0,0 +1,8 @@
+; TEST-ARGS: -tgt-is-asm
+
+@bar = constant i32 6
+
+define <4 x i32> @f(ptr %RP) {
+   %LGV = load i32, ptr @bar, align 4
+   ret <4 x i32> zeroinitializer
+}
diff --git a/tests/alive-tv/asm/const-delete.tgt.ll b/tests/alive-tv/asm/const-delete.tgt.ll
new file mode 100644
index 000000000..0965382ec
--- /dev/null
+++ b/tests/alive-tv/asm/const-delete.tgt.ll
@@ -0,0 +1,5 @@
+;@bar = constant i32 6
+
+define <4 x i32> @f(ptr %RP) {
+   ret <4 x i32> zeroinitializer
+}