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For $230 billion! Moscow files lawsuit against Euroclear over Russian assets

The European Union has decided to permanently freeze Russian assets on the Old Continent worth a total of approximately €210 billion

Снимка: БГНЕС/ЕРА

The Russian Central Bank, which has filed a lawsuit in a Moscow court against the Belgian depository Euroclear, is demanding 18.2 trillion rubles (approximately $229 billion), Korrespondent reported.

On December 12, the Russian Central Bank filed a lawsuit in a Moscow court over "illegal, harmful actions by the depository Euroclear“ and the European Commission's plans to use frozen Russian assets to finance Ukraine.

Today it was announced that the Russian Central Bank's case against Euroclear is for 18.2 trillion rubles (approximately $229 billion), and has been filed with the Moscow Arbitration Court.

As a reminder, the European Union has decided to permanently freeze Russian assets in Europe worth a total of approximately €210 billion. The majority of these assets belong to the Russian Central Bank and are held in Euroclear's Belgian depository.

The European Council will meet on 18 December to finalise the details of the reparations loan for Ukraine and resolve outstanding issues, including guarantees from all EU governments to Belgium so that it is not left footing the bill if Russia's case is successful.