On December 15, the Russian Central Bank filed a lawsuit against Belgium's Euroclear Securities Depository Center, demanding 18.2 trillion rubles (229.36 billion USD) - according to a court in Moscow.
Euroclear currently holds most of Russia's assets frozen by the European Union (EU) after Russia launched a military campaign in Ukraine in 2022. The lawsuit is seen as a reaction to the EU's plan to use these frozen assets to provide financial support to Ukraine.
The Moscow court is expected to soon issue a ruling in favor of the Russian Central Bank, paving the way for the finding of a way to enforce the ruling in other legal areas.
The move comes as the European Commission (EC) aims to reach a deal on a plan to use about €200 billion in frozen Russian assets at the EU summit on December 18-19.
Previously, on December 12, the EU even passed a controversial law, replacing the mechanism of extending the blockade of Russian assets according to the consensus once every 6 months with a permanent blockade to avoid the risk of being denied by other countries.
This raises concerns about the risk of weakening the EU's core principles as major decisions on foreign affairs and finance must reach absolute consensus. Hungarian Prime Minister Viktor Orban expressed his dissatisfaction with the decision, describing it as an legal act.
Meanwhile, Belgian Prime Minister Bart De Wever said that this is no different from "stealing" Russian money, calling on EU member states to provide guarantees and share the burden if this amount is eventually forced to be returned.
Also on December 12, the Russian Central Bank announced the EU's plan to use its assets illegally and affirmed its reservation of the right to use all necessary measures to protect its interests.
