US EditionRussia seeks $230 billion in damages from Euroclear over seized assets
Moscow's lawsuit demands $230 billion in damages from Euroclear, challenging EU plans to use frozen Russian assets to fund Ukraine amid warnings of a prolonged legal battle.
- On Dec. 12, the Central Bank of Russia filed a lawsuit in Moscow seeking $230 billion in damages from Euroclear, and the court said it received a claim demanding 18.2 trillion roubles.
- In response to EU proposals, the Bank of Russia said on Dec. 12 that plans to use roughly 210 billion euros in frozen reserves for Kyiv were illegal and it reserved all rights to protect its interests.
- Moscow's Commercial Court is expected to rule swiftly, and Gleb Boyko said, `The Bank of Russia may attempt to enforce a Russian court's decision against Euroclear in China, Hong Kong, the UAE, Kazakhstan and other friendly jurisdictions, if such assets can be identified.'
- The EU executive proposed a protective "three-tier defense" to shield Belgium and Euroclear, while EU leaders agreed on Friday to indefinitely freeze the Russian central bank assets, despite Belgian government fears of legal reprisals.
- The EU's 27 leaders will meet in Brussels on Thursday to discuss Ukraine funding, with Kaja Kallas saying, `We are not there yet, and it is increasingly difficult, but we're doing the work and we still have some days,` as the 2024 Riksbank paper highlighted legal precedent risks, Kaja Kallas told journalists.
40 Articles
40 Articles
Russia's Central Bank seeks $229 billion in damages from Euroclear
Russia's central bank has filed a lawsuit seeking 18.2 trillion rubles ($229 billion) in damages from Euroclear, escalating Moscow's dispute with the Belgium-based securities depository as the EU considers how to use frozen Russian assets to support Ukraine.
The Central Bank of Russia has filed a lawsuit with the Moscow Court of Arbitration against...
The Moscow Court of Arbitration received on Monday the request of the Central Bank of Russia (BCR) to the Belgian depository Euroclear for the use of its assets without the consent of Russia, which asks for damages 18,172 billion roubles (US$229 billion at the official exchange rate of December 12, the date on which the Central Bank announced its claim). “The Moscow Court of Arbitration arrived the claim of the BCR to Euroclear. The amount of th…
Since the EU wants to use the Russian Central Bank's frozen assets for financial assistance to Ukraine, Moscow will probably avenge itself. Experts see hard times approaching European companies. Which Western assets could Putin access?
The Russian Central Bank is seeking around 195 billion euros in damages in a lawsuit against Belgium-based financial firm Euroclear. Euroclear holds most of the Russian central bank's assets, which the European Union has frozen as part of sanctions against Russia over its invasion of Ukraine, which began in 2022.
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