Russia Files Lawsuit Demanding USD229.7B from Euroclear
The lawsuit, filed December 12, targets the financial institution currently holding around €185 billion ($217 billion) in Russian reserves that were frozen under European Union sanctions triggered by Moscow's February 2022 invasion of Ukraine.
The legal action comes as EU member nations voted Friday to permanently freeze Russian state assets totaling €210 billion, marking an escalation in the economic standoff between Brussels and the Kremlin.
Kaja Kallas, the EU's foreign policy chief, made clear the bloc's position: the €210 billion will stay within European jurisdiction until Moscow provides reparations for destruction caused during the nearly four-year conflict in Ukraine.
Russia's central bank responded the same day, condemning what it characterized as the EU's "direct and indirect use" of the immobilized funds as a breach of international law, vowing to pursue "necessary legal steps."
The competing claims underscore the deepening financial warfare between Russia and Western nations, with billions in state assets now at the center of an international legal battle.
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