Euroclear Sues Russia's Central Bank to Block €220 Billion Damages Ruling

According to Euroclear spokesperson Jorgen Muylaert, the Brussels-based clearing house filed a lawsuit in a Belgian civil court last month seeking to block enforcement of a Russian arbitration ruling that ordered payment of approximately €220 billion in damages over frozen Russian assets. Euroclear said it complied with EU sanctions rules when freezing the assets and contends Russian courts lack jurisdiction over the firm. A Moscow arbitration court issued the judgment in June 2026, with enforcement granted days later. While the ruling is unlikely to have direct effect within the EU due to legal protections for sanctions compliance, the Russian central bank could attempt to seize Euroclear assets in countries outside EU jurisdiction, potentially including China, the United Arab Emirates, and Kazakhstan.
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