Finance
Russian central bank challenges asset freeze in EU court
Published by Global Banking & Finance Review®
Posted on March 3, 2026
2 min readLast updated: March 3, 2026
Quick Summary
Russia’s central bank has lodged a legal challenge at the EU’s General Court in Luxembourg against the European Commission’s December 12, 2025 regulation indefinitely freezing around €210 billion ($300 billion) of its sovereign assets held largely at Euroclear, alleging procedural flaws and violatio
Russian Central Bank Files Lawsuit Over EU's Indefinite Asset Freeze
Legal Challenge Against EU Asset Freeze
Background of the Asset Freeze
MOSCOW, March 3 (Reuters) - Russia's central bank said on Tuesday that it had submitted a claim to the Luxembourg-based General Court of the European Union, challenging a move made in December 2025 to freeze its assets in Europe indefinitely.
The central bank estimates that about $300 billion of Russia's sovereign funds have been frozen by Western countries. Most of these assets are frozen in Europe and are held at the Belgian depository Euroclear.
Previous Legal Actions and Damages Sought
The central bank filed a lawsuit in Moscow last December, seeking $230 billion in damages from Euroclear in response to the indefinite freeze and to proposals to confiscate the assets to fund Ukraine, which have not materialised.
Alleged Procedural Violations
In its statement, the central bank said the freeze was introduced with "serious procedural violations" because it was adopted by majority vote rather than unanimously, as required by EU law.
A source close to the central bank said the alleged violations were the focus of the claim.
EU's Position and Central Bank's Response
The EU document on the freeze, published on December 12, rules out any possibility of legal action by Russia over the decision in EU courts.
"The EU regulation violates the basic and inalienable rights of access to justice and inviolability of property, as well as the principle of sovereign immunity of states and their central banks, guaranteed by international treaties and EU law," the central bank said.
Reporting Credits
(Reporting by Elena Fabrichnaya; Writing by Gleb Bryanski; Editing by Alison Williams)
Key Takeaways
- •The EU froze about €210 billion of Russian central bank assets in December 2025, mostly held by Euroclear in Belgium, citing sanctions over the Ukraine war (theguardian.com).
- •Russia’s central bank claims the freeze was adopted by majority vote, not unanimously as required under EU law, and has filed a lawsuit in Moscow seeking roughly $230 billion in damages (theguardian.com).
- •Legal analysts say Russia has limited avenues to challenge the freeze within EU or international courts; enforcement of any Russian judgment in Europe would likely be blocked by immunity and jurisdictional barriers (washingtonpost.com)
References
Frequently Asked Questions about Russian central bank challenges asset freeze in EU court
1Why did Russia's central bank challenge the EU asset freeze?
Russia's central bank claims the freeze involved serious procedural violations and infringes on sovereign immunity and access to justice.
2How much of Russia’s assets were frozen by Western countries?
About $300 billion of Russia's sovereign funds have been frozen, with most held in Europe at Euroclear.
3What legal action has the Russian central bank taken?
The bank filed a claim with the EU General Court in Luxembourg, challenging the asset freeze and seeking damages from Euroclear in Moscow.
4What is the EU's stance on Russia challenging the freeze in court?
The EU document rules out the possibility of legal action by Russia in EU courts regarding the asset freeze decision.
5What are the central bank's main arguments against the EU's freeze?
The central bank argues that the freeze violated EU law by lacking unanimity and broke international principles of sovereign immunity and property rights.
