Russia's central bank has denounced European Union proposals to utilize frozen Russian assets as "illegal" and in violation of international law, escalating tensions amid ongoing geopolitical disputes. In a statement released Friday, the bank asserted that any use of its €191 billion in immobilized reserves – largely held by Belgium's Euroclear – would breach sovereign immunity principles.
The institution revealed it has filed a lawsuit against Euroclear in a Moscow court, alleging the financial intermediary's actions have obstructed Russia's ability to manage its securities. "These mechanisms constitute unauthorized use of property protected by sovereign immunity," the bank stated, reserving the right to employ "all available means" to safeguard its interests.
While Euroclear and EU authorities have yet to respond, the confrontation highlights deepening financial fractures between Moscow and Western nations. Legal experts suggest the case could set precedents for state asset protections during international conflicts.
Business analysts warn the dispute may further complicate cross-border investments in emerging Asian markets, where many nations maintain neutral economic ties with both Russia and EU members. The development arrives as global financial institutions grapple with balancing sanctions enforcement with international legal frameworks.
