Euroclear files two cassation appeals against Russian Central Bank’s claim

TASS

MOSCOW, September 25. /TASS/. The Belgian depository Euroclear has filed two cassation appeals with the Moscow Arbitration Court against the Central Bank of Russia’s lawsuit demanding 18.2 trillion rubles ($216 bln), according to the arbitration cases database.

Complaints from the Belgian depository were filed with the Moscow Arbitration Court on September 24. Euroclear intends to appeal the court ruling issued on May 29.

In December 2025, the Bank of Russia filed a claim against Euroclear for 18.2 trillion rubles with the Moscow Arbitration Court amid the European Union’s plans to use blocked Russian assets to fund Ukraine. This amount includes frozen funds, the value of blocked securities, and foregone profits. The court closed the proceedings in the regulator’s lawsuit against the Belgian depository at the request of the Central Bank. The Bank of Russia has announced that the procedure for enforcing the court decision using the defendant's assets, including those located in foreign jurisdictions, both friendly and unfriendly, would be determined after the judgment takes legal force.

On May 15, 2026, the court upheld the Bank of Russia's claim to recover 18.2 trillion rubles from Euroclear Bank. On May 20, the Bank of Russia filed a motion with the Moscow Arbitration Court for immediate enforcement of the ruling.

In July, the 9th Arbitration Court of Appeal rejected Euroclear’s appeal against the recovery of 18.2 trillion rubles in the Central Bank’s lawsuit.

The Bank of Russia is also considering the possibility of protecting its interests in international courts and arbitration tribunals, with subsequent enforcement of the decisions of such courts in UN member states. The EU and G7 countries have frozen around 300 bln euro of Russian assets. Roughly 180 bln euro is held in the Belgian depository Euroclear. The European Commission is seeking approval from EU member states to use Russian assets for Ukraine.

Fonte: TASS