Frozen Assets Push Russia to Sue Euroclear in Moscow

Russia has launched formal legal action against Euroclear over frozen assets, marking an escalation in its efforts to reclaim state funds held abroad.

The Russian central bank said it has filed a lawsuit at the Moscow Arbitration Court, accusing the Belgium-based depository of unlawful actions that prevented it from accessing and managing its frozen assets.

According to the statement, restrictions on the frozen assets have caused direct financial damage, prompting the bank to pursue legal remedies through domestic and international channels.

The move comes as Moscow warns of a broader global legal campaign should the European Union proceed with any use of the assets, potentially setting the stage for a prolonged dispute.