The Central Bank of Russia (BCR) said that the European Union’s plans to use its assets were illegal and that it reserved the right to use all available means to protect its interests.
In a separate statement, the BCR announced that it has sued the Belgian depository Euroclear over the use of its assets without the consent of the Russian party, the regulator reported on Friday (12/12/2025).
“The BCR filed a lawsuit against the depositary Euroclear before the Moscow Arbitration Court with the aim of obtaining compensation for the damage caused” by the handling of its assets without the consent of the Russian party, the tax authorities explain on their website.
The panel, led by Elvira Nabiúlina since 2013, claims that Euroclear’s decisions “caused damage to the BCR because it failed to manage the cash and securities deposited there.”
In an earlier statement today, the Russian authorities defended that the European Commission’s decisions on the reparations loan proposal to Ukraine were unlawful due to the use of foreign assets without consent.
Therefore, their application will entail “the unconditional challenge by the BCR before all available competent authorities of any direct or indirect actions that lead to the unauthorized use of the assets of the Bank of Russia,” they explain.
The BCR will use “legal” and “other mechanisms” to protect its interests
“The BCR reserves the right to implement, without prior notice, all available legal and other mechanisms to protect its interests in the event of further progress or any form of implementation of the above-mentioned European Union initiatives,” they add.
The European Commission is waiting for a decision by EU countries to expropriate 210 billion euros of Russian assets, of which 185 billion are frozen at the Belgian custodian bank Euroclear.
Previously, Euroclear had opposed the seizure of Russian assets, noting that this would lead to Russia seizing European or Belgian assets in the country, which is at war with Ukraine.
Moscow, in turn, has repeatedly warned of retaliation for the expropriation of its assets.
On the other hand, in recent years Russia has already started nationalizing Western companies based in the country, using excuses such as that companies in strategic sectors are controlled by foreigners or that they finance the Ukrainian side.
Yesterday, the Russian Prosecutor General’s Office called for the seizure of the assets of AgroTerra, an American corporation with an estimated capitalization of 73 billion rubles ($918 million).
CP (efe, rtr)
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