Euroclear has filed a lawsuit against the Central Bank of Russia in…

Euroclear has filed a lawsuit against the Central Bank of Russia in Brussels to challenge a Russian court's ruling on frozen assets.

Consensus

• Euroclear filed an appeal against a Russian court's decision to recover €200 billion from it for losses due to blocked Russian assets.
• The Russian arbitration court in Moscow previously ruled in favor of the Central Bank of Russia, ordering Euroclear to pay damages.
• Euroclear claims that only Belgian courts have jurisdiction over this matter.

Points of divergence

• The case will be heard by the Ninth Arbitration Appellate Court in Russia on July 16, and Euroclear has filed an appeal with that court. — kommersant
• A preliminary hearing took place in Brussels on June 25, and Euroclear is challenging the Moscow ruling before Belgian courts. — vm
• Euroclear has already been denied a favorable outcome by the Russian court when it sought to overturn its liability for €200 billion. — vesti

Coverage (3 sources)

• Euroclear to consider Russia Central Bank's claim of $240 billion on July 16 — Коммерсантъ
• Euroclear Depository Files Lawsuit Against Russian Central Bank in Brussels Court — Вечерняя Москва
• Euroclear files lawsuit in Belgian court against the Russian Central Bank — Вести

Key entities

• Russia
• Euroclear
• CB
• Moscow
• Belgium
• Bank of Russia
• Brussels
• Ninth Arbitration Appellate Court
• Euroclear Depositary
• Central Bank
• Central Bank
• Arbitration Court
• Euroclear Bank
• Former Arbitration Court
• L'Echo