Russia threatens the EU over its intentions to use frozen assets

The Central Bank of Russia called the European Union's plans to use its frozen assets illegal and announced its intention to challenge such actions in courts across various jurisdictions. Moscow is also filing a lawsuit against Euroclear, accusing the institution of blocking access to funds and causing damages.

This was reported by Reuters on Friday, December 12.

Russia's Central Bank threatens EU with lawsuits

Russian officials issued a sharp statement after the EU declared its intention to use frozen Russian assets to finance Ukraine's needs. Moscow insists that any attempt to directly or indirectly use these funds violates international law.

The Russian Central Bank also announced the filing of a lawsuit in a Moscow court against the financial institution Euroclear, which holds a significant portion of Russian assets. The statement claims that Euroclear's actions prevented the Bank of Russia from managing its financial resources and caused "harm."

Meanwhile, European diplomats said that EU member states plan on Friday to adopt a decision on the indefinite freezing of the Russian Central Bank's assets, in order to avoid having to renew the measure every six months.

In response, Russian officials stated they will challenge any such actions "in national courts, international organizations, arbitration tribunals, and other judicial bodies," with subsequent enforcement of rulings in UN member states.

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