Source link : https://london-news.net/moscow-court-initiates-proceedings-in-central-banks-case-against-euroclear-over-frozen-assets/
A Moscow court convened on Friday for a preliminary hearing regarding a lawsuit filed by Russia’s Central Bank against the Belgian financial group Euroclear, concerning the status of Russia’s assets that remain frozen in Europe.
Following the full-scale invasion of Ukraine nearly four years ago, the European Union froze tens of billions of euros from Russia’s international reserves as part of extensive sanctions designed to disrupt Moscow’s military efforts.
During the preliminary hearing, Judge Anna Petrukhina decided that the proceedings would be conducted privately at the request of Russia’s Central Bank, which aimed to safeguard “banking secrecy,” according to reports from AFP journalists at the Moscow Arbitration Court.
The lawsuit, submitted in December as discussions within the EU were ongoing about potentially utilizing the frozen Russian assets to aid Ukraine, was prompted by the bloc’s failure to approve such a plan. Instead, a loan backed by the EU’s common budget was ultimately chosen.
Last month, President Vladimir Putin described the proposed EU strategy to confiscate Russian assets as “robbery,” cautioning that “the repercussions could be severe for the thieves.”
In its lawsuit, the Central Bank contended that Euroclear acted unlawfully in freezing the assets and is demanding approximately $232 billion, an amount that the bank claims accounts for the assets plus compensation for lost profits.
The consequences of any legal action…
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Author : rimmaruslan98@gmail.com
Publish date : 2026-01-16 16:08:00
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