Moscow court rejects Euroclear appeal over €200 billion Russian asset ruling

The Moscow District Arbitration Court has rejected an appeal by the Belgian depository Euroclear regarding previous rulings that mandate the institution pay approximately €200 billion in damages to the Central Bank of Russia. The hearing was held behind closed doors, confirming a prior decision that upheld the Russian monetary authority's claim.

The legal dispute stems from the freezing of approximately €300 billion in Russian assets by the European Union and G7 nations. Of this total, roughly €180 billion to €200 billion is held within Euroclear. The lawsuit, filed by the Central Bank of Russia in late 2025, seeks compensation for frozen funds, the value of blocked securities, and lost profits.

While Russian courts have issued these binding judgments, the European Union continues to face internal disagreements regarding a legal mechanism to repurpose these assets to fund Ukraine. Belgium has expressed significant concerns regarding the potential legal and financial consequences for the European banking system.