US EditionRussia’s Central Bank sues Belgian financial institution as EU mulls using Moscow’s frozen assets
The Bank of Russia aims to block a $106 billion EU loan to Ukraine by suing Euroclear over frozen Russian assets worth about €185 billion, citing unlawful use.
- This past week, the Bank of Russia filed suit in the Moscow Arbitration Court against Euroclear, alleging damage and seeking compensation for blocked funds and lost gains.
- The European Commission proposed immobilising €210bn indefinitely to fund a €90bn loan, with EU countries agreeing on Thursday, while Belgium opposed the plan fearing Russian retaliation.
- Investor-State dispute settlement allows investors to bring claims before private international arbitrators rather than courts, with Cold War-era bilateral investment treaties increasingly used to challenge EU sanctions policy.
- The EU Council introduced a loss‑recovery derogation and no‑liability clause, while Dmitry Peskov warned Moscow would respond to alleged asset theft, and Euroclear faces over 100 lawsuits.
- Russia could retaliate by immobilising Euroclear funds abroad, with an estimated €15 billion in Russia; Moscow has already confiscated €33 billion linked to Euroclear clients while Euroclear released €3 billion to compensate clients.
54 Articles
54 Articles
Italy Reportedly Joins Belgium in Opposing EU’s Plan to Use Russia’s Frozen Assets for Ukraine
Italy’s reportedly joined Belgium in opposing the EU’s plan to use $246 billion of Russia’s frozen assets to support Ukraine, according to an internal document seen by Politico on December 13. This intervention, just days before a crucial EU summit, weakens the European Commission’s push for a deal. The Commission aims to free up Russian assets held in Belgium’s Euroclear bank to assist Ukraine’s war-ravaged economy. Belgium’s government has rai…
The Russian Central Bank filed a lawsuit in Moscow today against the company Euroclear, which holds most of the frozen Russian assets that the European Union wants to use to finance aid to Ukraine.
The Russian Central Bank, on the other hand, announces a lawsuit against Euroclear. Minister of Finance Marterbauer described the project as the "best solution possible now."
The Twenty-seven have approved a measure that prevents the 210 billion euros from being returned to Moscow if sanctions are not renewed. Russia attacks Euroclear in court ...
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