Russian move to recover $229 billion in frozen assets in Europe
The Russian Central Bank has filed a lawsuit in Moscow demanding 18.2 trillion rubles ($229 billion) from the securities company, TASS reported on Monday. "Euroclear" Which is headquartered in Brussels.
The central bank announced in a statement on Monday that it would sue the Belgium-based depository company for… "Illegal work" Which makes "It is impossible for the bank to dispose of its funds and securities"The Russian Parliament had warned last November that any seizure of Russia’s assets by European Union Must be met with legal action against Belgium and the securities company "Euroclear"warning that Moscow could also confiscate the assets of investors from… "Unfriendly countries"
Russian parliamentarians said: "Any encroachments on Russian assets must be met with an appropriate legal response, starting with claims for compensation – with a demand for confiscation of assets as a security measure – against Euroclear and Belgium, where the bulk of Russia’s frozen SWFs are illegally held."
Western governments had frozen about $300 in Russian assets due to its war in Ukraine. Of this amount, €185 billion is held in Euroclear, a Belgium-based securities depository.
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