Russia demands almost US$230bn from Belgian depository over frozen assets

The Central Bank of Russia has demanded RUB 18.2 trillion (approx. US$229 billion) from the Euroclear depository over frozen assets.

Source: Kremlin-aligned Russian news agency TASS, as reported by European Pravda

Details: On 12 December, the Central Bank of Russia filed a lawsuit in a Moscow court over what it calls "illegal actions by the Euroclear depository causing losses", as well as over the European Commission's plans to use the bank's frozen assets.

On the morning of 15 December, the court's press service told Russian media that the claim by the Central Bank of the Russian Federation against Euroclear for RUB 18.2 trillion (approx. US$229 billion) had been lodged with the Arbitration Court of Moscow.

Background:

• On 12 December, European Union ambassadors approved a decision to freeze Russian assets held in Europe for an indefinite period.
• EU Ambassador to Ukraine Katarína Mathernová said that following Friday's decision by the European Union, Russia would not gain access to its Central Bank's frozen assets held in Europe even through "back doors".

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