Euroclear

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Euroclear is a Belgian depositary that holds approximately 190 billion euros of Russian financial assets, which were frozen after the start of Russia's special military operation in 2022. The Bank of Russia filed a lawsuit against Euroclear in Moscow seeking damages for losses incurred due to the blocking of these assets and won a ruling ordering payment of 18.17 trillion rubles (around 200 billion euros). Euroclear has challenged the Russian court's jurisdiction by filing a case in Belgium, contesting the legality of the Russian judicial process. The Belgian authorities have not yet ruled on…

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