Moscow Court Awards Russia Billions Against Euroclear

A Moscow court has upheld the Russian central bank's claim to recover damages from Euroclear worth more than $249.43bn.

The dispute concerns the freezing of Russian state assets in Europe following the outbreak of war in Ukraine. Most of these funds are held at Euroclear, the Belgian financial clearinghouse.

Russia's central bank filed the lawsuit in late 2025 after the European Union approved a plan to use frozen Russian assets to support loans and aid to Ukraine. Moscow welcomed the ruling, describing the actions of both Euroclear and the EU as illegal.

Euroclear, however, argues that it was not afforded the right to a fair trial in the Russian proceedings.

(reuters, mja)