Moscow court backs central bank in $249 billion Euroclear damages claim, lawyers say
Russian Central Bank's Lawsuit Against Euroclear: Court Decision and Reactions
Background of the Legal Dispute
MOSCOW, May 15 (Reuters) - A court in Moscow has upheld the Russian central bank's claim to recover damages from Euroclear related to the freezing of assets worth 18.17 trillion roubles ($249.43 billion), according to Euroclear's lawyers.
Claims of Unfair Trial
The lawyers also said that the financial clearing house's right to a fair trial had been violated. Euroclear acted as custodian, holding most of the Russian assets in the European Union which the EU has ordered frozen.
Euroclear's Response to the Court Ruling
Brussels-based Euroclear said in a statement it strongly contests the decision and added it would appeal it.
Central Bank's Statement
Russia's central bank said in its statement that it welcomed the court’s decision, "which recognised Euroclear's actions as unlawful."
Future Legal Actions
"We will continue our efforts to challenge the EU’s unlawful actions regarding Russian sovereign assets," the bank said.
Details of the Lawsuit
The central bank filed the 18.2 trillion rouble lawsuit in Moscow in December 2025 in response to a European Union plan to use Russian sovereign assets frozen in Europe - mostly held in Euroclear - to back a loan to Ukraine.
Exchange Rate Information
($1 = 72.8455 roubles)
Reporting Credits
(Reporting by Elena Fabrichnaya and Inti LandauroWriting by Maxim RodionovEditing by Louise Heavens and Cynthia Osterman)
