Moscow Court Holds Preliminary Hearing in Central Bank Lawsuit Against Euroclear
A Moscow court began a closed-door hearing regarding the Central Bank of Russia’s lawsuit against Euroclear over frozen Russian assets.Summary
A Moscow court held a preliminary, closed-door hearing on Friday in a lawsuit filed by Russia’s Central Bank against Euroclear concerning approximately $232 billion in frozen Russian assets held in Europe. The Central Bank alleges that Euroclear acted illegally by freezing the assets and is seeking both the return of the assets and compensation for lost returns. The lawsuit was filed in December amid discussions within the EU about potentially using the frozen funds to aid Ukraine, a plan that ultimately did not materialize. President Putin has condemned any seizure of Russian assets as “robbery” and warned of potential repercussions. Euroclear is currently defending against over 100 legal claims in Russia, and its lawyers declined to comment on this specific case. The hearing was closed to the public at the request of the Central Bank to protect “banking secrecy,” according to reports from the Moscow Arbitration Court.
(Source：The Moscow Times)