Russian central bank launches lawsuit against Euroclear

The Russian central bank is launching a lawsuit against the Belgium-based securities firm Euroclear, which holds approximately 185 billion euros in Russian assets that have been frozen, according to the Russian news agency TASS.

The bank intends to recover its financial losses through an arbitration court in Moscow, claiming they are the result of “unlawful actions” by Euroclear.

Euroclear has not yet commented on the news.

EU member states agree to indefinite immobilisation of frozen Russian assets

EU member states have agreed to freeze Russian assets indefinitely, despite Belgium's objections. The Danish presidency of the EU Council...

belganewsagency.eu

The case comes amid European discussions about the use of the frozen Russian funds. The European Commission is reportedly considering ways to use the money directly or indirectly without Russia’s consent. Belgium has expressed caution, halting a proposed recovery loan to Ukraine using the assets due to financial and economic risks.

Euroclear’s chief executive, Valerie Urbain, issued a warning over this matter last week. She said the proposal “is not realistic” and could “destabilise the international financial system” given Euroclear’s central role.

^{​Euroclear headquarters in Brussels © PHOTO BELGIAN FREELANCE}

Related news

Euroclear boss warns EU over plan for Russian assets

Euroclear’s chief executive, Valerie Urbain, has issued a sharp warning over EU plans to use frozen Russian state assets as backing for a major...

belganewsagency.eu

Russian assets: Merz travelling to Brussels on Friday for dinner with De Wever and Von der Leyen

German chancellor Friedrich Merz has postponed a planned trip to Oslo to meet with Belgian prime minister Bart De Wever (N-VA) and the president...

belganewsagency.eu