Moscow Court Orders Euroclear to Pay $250 Billion for Frozen Russian Assets
A Moscow arbitration court ordered Belgian financial institution Euroclear to pay approximately 200 billion euros ($250 billion) in damages to Russia’s Central Bank for freezing sovereign assets following the invasion of Ukraine. The court deemed Euroclear’s actions unlawful, granting a claim filed in late 2025. Euroclear rejected the ruling, citing lack of jurisdiction under EU law and unfair closed-door proceedings, and announced plans to appeal. While symbolically significant for Russia, legal experts note enforcement in Europe is highly unlikely due to jurisdictional barriers, marking an escalation in financial legal battles between Russia and the EU.
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Russian Court Orders Euroclear to Pay $250 Billion Over Frozen Assets
A Russian arbitration court has ordered the Belgian financial group Euroclear to pay approximately $250 billion (18.2 trillion rubles) in damages to the Russian Central Bank. The ruling stems from the freezing of billions of dollars worth of Russian assets in the European Union following the start of the full-scale invasion of Ukraine. The Moscow Court of Arbitration upheld the claim, declaring Euroclear's actions unlawful. However, Euroclear dismissed the claims as meritless, stating it does not recognize the Russian court's jurisdiction and confirming that its operations remain unaffected. The company intends to appeal the decision. Legal analysts note that Russian courts lack jurisdiction abroad, leaving Moscow with no clear legal pathway to enforce the ruling or recover the funds in European courts. The lawsuit was filed after the EU suggested using the immobilized funds as collateral for loans to Ukraine. While the Russian Central Bank welcomed the verdict as a recognition of wrongdoing, it acknowledged the decision is not yet definitive. This case highlights the ongoing financial and legal tensions between Russia and Western institutions amid prolonged sanctions.
The Moscow Times - Independent News From RussiaRussian Court Orders Euroclear to Pay $250 Billion Over Frozen Assets
A Russian arbitration court has ordered the Belgian financial clearing house Euroclear to pay approximately $250 billion (18.2 trillion rubles) in damages to the Russian Central Bank. The ruling stems from the freezing of billions of dollars worth of Russian sovereign assets in the European Union following the start of Russia's full-scale invasion of Ukraine. The Moscow Court of Arbitration upheld the claim, declaring Euroclear's actions unlawful. However, Euroclear immediately rejected the verdict, stating it does not recognize the Russian court's jurisdiction and describing the claims as without merit. The company affirmed that its operations remain unaffected and announced intentions to appeal. While the Russian Central Bank welcomed the decision as a recognition of wrongdoing, legal analysts highlight that Russian courts lack jurisdiction abroad, leaving Moscow with no clear mechanism to enforce the payment or recover the funds in European jurisdictions. This lawsuit was filed after the EU suggested using the immobilized assets as collateral for loans to Ukraine, a move Russia has characterized as theft.
The Moscow Times - Independent News From RussiaRussia Wins Court Victory Over Frozen Assets Held by Euroclear in EU
A Moscow court has ruled in favor of the Russian Central Bank in its dispute with the Belgian financial services provider Euroclear, ordering the company to pay approximately 18.2 trillion rubles (around 215 billion euros) in damages. This amount covers frozen government funds and claimed lost profits. The verdict represents an initial legal success for Russia in its broader conflict with the European Union over sanctions imposed following the invasion of Ukraine. Euroclear, which manages the majority of Russia's blocked assets in the EU, stated it would appeal the decision, criticizing the closed-door proceedings as unfair. The ruling is not yet legally binding but is expected to prompt Russian countermeasures against European capital within Russia. This case stems from a December decision by 25 EU member states to indefinitely ban the return of frozen Russian assets, a move Russia deems illegal under international law. Meanwhile, a separate lawsuit filed by the Russian Central Bank against the Council of the EU remains pending at the European Court of Justice, with a verdict expected soon that could set a global benchmark for handling frozen state assets.
DIE ZEIT | Nachrichten, News, Hintergründe und DebattenEuroclear Rejects $250 Billion Russian Court Ruling as Unrecognized Under EU Law
Euroclear, the Brussels-based financial institution, has firmly rejected a ruling by a Moscow arbitration court ordering it to pay over 200 billion euros (approximately $250 billion) in damages for blocking Russian assets since the invasion of Ukraine. Euroclear stated that the complaint filed by the Central Bank of Russia is unfounded and emphasized that such legal actions are not recognized under European Union law. The institution explicitly declared that it does not recognize the jurisdiction of the Russian court in this matter and confirmed its intention to appeal the decision. Despite the significant monetary penalty imposed by the Moscow court, Euroclear assured stakeholders that the conviction has no impact on its current activities or financial stability. The company reiterated that assets held by the Central Bank of Russia remain blocked in strict accordance with international sanctions. This ruling is part of a broader series of similar complaints pending in Russia against Western financial entities managing frozen sovereign funds. The dispute highlights the ongoing legal and economic tensions between Russia and the European Union regarding the seizure and management of frozen state assets.
Le SoirRussian Court Orders Euroclear to Pay $250 Billion in Damages for Frozen Assets
A Russian court has ordered Euroclear, the Brussels-based financial institution, to pay approximately $250 billion in damages. The ruling stems from the freezing of billions of dollars in Russian assets within the European Union following the onset of the war in Ukraine. Euroclear holds the majority of the frozen assets belonging to the Central Bank of Russia (BCR). The BCR expressed satisfaction with the decision, which declared Euroclear's actions illegal. The hearing took place at the Moscow Arbitration Court behind closed doors. However, legal experts highlight that Russian courts lack jurisdiction abroad, making enforcement in Europe highly unlikely. The decision is not final, as Euroclear retains the right to appeal. This lawsuit was filed by Russia in December, characterizing the asset freeze as theft, particularly after the EU discussed using these funds as security for loans to Ukraine. Euroclear had previously noted it was facing over a hundred similar complaints in Russia. It remains unclear how Moscow intends to recover the awarded sum given the jurisdictional barriers.
Le SoirMoscow Court Orders Euroclear to Pay 200 Billion Euros to Russia’s Central Bank
A Moscow arbitration court has ruled in favor of Russia’s Central Bank, ordering the Belgian financial depositary Euroclear to pay 18.17 trillion rubles (approximately 200 billion euros) in damages. This decision, confirmed by Sergei Savelyev, a representative for Euroclear, fully grants the Russian central bank's claim regarding unlawful actions taken by the depositary. The case was heard behind closed doors, a procedure Euroclear objected to, citing violations of the right to a fair trial. Euroclear has announced its intention to appeal the verdict. The lawsuit, filed in December 2025, stems from the freezing of Russian assets following the full-scale invasion of Ukraine. Approximately 190 billion euros of the total 260 billion euros in frozen Russian assets are held by Euroclear. Since 2024, profits generated from these frozen assets have been directed toward funding aid for Ukraine, following an EU approval for an indefinite freeze on these assets until the end of the war. This ruling marks a significant escalation in the financial legal battles between Russia and Western financial institutions amidst ongoing geopolitical tensions.
Meduza.ioMoscow Court Orders Euroclear to Pay 200 Billion Euros to Russia’s Central Bank
A Moscow arbitration court has ruled in favor of Russia’s Central Bank, ordering the Belgian depositary Euroclear to pay 18.17 trillion rubles (approximately 200 billion euros) in damages. This decision fully grants the claim filed by the Russian central bank in December 2025, which cited unlawful actions by Euroclear regarding frozen assets. Sergei Savelyev, a representative for Euroclear, stated that the proceedings were held behind closed doors, violating the right to a fair trial, and confirmed that the company intends to appeal the verdict. The dispute centers on approximately 190 billion euros of Russian assets frozen at Euroclear following the start of the full-scale invasion of Ukraine. While the European Union has approved an indefinite freeze on these assets until the end of the war, profits generated from them have been directed toward funding aid for Ukraine since 2024. This ruling marks a significant escalation in the financial legal battles stemming from international sanctions against Russia.
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