Arbitration Court Rules in Favor of Russian Central Bank in Euroclear Case
Euroclear headquarters In Brussels, Belgium. X/ @business
May 15, 2026 Hour: 2:17 pm
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Russia denounces use of frozen assets as illegal while Euroclear plans to appeal the ruling.
On Friday, after a closed-door trial, the Moscow Arbitration Court ruled in favor of Russia’s Central Bank in its lawsuit against the Belgian depository Euroclear over the use of US$230 billion in assets without the consent of Russian authorities.
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“The right to a fair trial was clearly violated. Given the confidential nature of the proceedings, which we opposed, we cannot disclose additional information,” said attorney Sergei Savelyev said, representing Euroclear, a company that plans to appeal the decision.
Meanwhile, the Central Bank expressed satisfaction with the ruling, although it noted that it remains unclear whether the decision will enter into force, since it can still be appealed.
“We are satisfied with the court’s decision, which recognized the illegality of the actions of the depository Euroclear that caused losses to the Bank of Russia,” the institution stated.
In December 2025, the Central Bank announced that it would sue Euroclear “with the aim of obtaining compensation for the damages caused” by the use of its assets without its consent.
The Central Bank argues that Euroclear’s decisions caused damages to the institution “due to the inability to manage the cash and securities deposited” there.
Russian authorities denounced the decisions of the European Commission regarding the loan proposal for reparations to Ukraine as illegal because they involve the use of foreign assets without consent.
European Union countries approved the indefinite immobilization of about 210 billion euros in Russian assets, which were frozen in retaliation for the special military operation in Ukraine and could be allocated to financing the reconstruction of that country.
Previously, Euroclear had opposed the confiscation of Russian assets, warning that such a move could lead Russia to confiscate European or Belgian assets.
teleSUR/ JF
Sources: EFE
