Russian Central Bank sues Belgian clearinghouse Euroclear

Russia’s Central Bank (CBR) has filed a lawsuit against Euroclear in a Moscow court. The bank claims Euroclear is unlawfully blocking access to frozen funds and securities. This action coincides with the EU’s plan to utilize approximately €210 billion of CBR assets to assist Ukraine.

EU ambassadors recently agreed to maintain the freeze on these Russian assets without needing unanimous renewal every six months. The CBR stated, "Euroclear’s actions caused harm to the Bank of Russia by preventing it from managing the funds."

Additionally, the CBR warned it will contest any attempts by the EU to use these assets for Ukrainian loans.