Russia Challenges EU Sanctions in Battle Over Frozen Assets
The Bank of Russia says the measure could block Russian court rulings abroad as the EU directs frozen-asset profits to Ukraine.
8 Articles
8 Articles
Russian central bank sues EU over frozen assets and sanctions rules
The Central Bank of Russia has filed a lawsuit with the General Court of the European Union, challenging an EU regulation adopted in July that it claims interferes with its dispute with Euroclear over Russian assets frozen in Europe, Reuters reported. This regulation is part of the EU’s 21st sanctions package against Russia and allows EU courts and member states to refuse recognition and enforcement of decisions issued by Russian courts. Last ye…
Russia Challenges EU Sanctions in Battle Over Frozen Assets
Russia's central bank has contested an EU regulation at the EU General Court, arguing interference in its legal dispute with Euroclear over frozen Russian assets. The Kremlin warns of legal complications if the EU uses these assets for Ukraine support. The central bank considers seeking asset seizure in 'friendly' nations.
The Central Bank of Russia announced today that it has initiated proceedings before the General Court of the European Union to challenge the regulation adopted by the Union in July, stating that it interferes with its dispute with the company "Euroclear" regarding the freezing of Russian assets in Europe.
Russia's central bank has appealed to the General Court of Justice of the European Union, challenging an EU regulation adopted in July that allows European courts and member states not to recognize or enforce decisions of Russian courts
Russia is contesting EU measures on frozen Russian reserves, while Europe is preparing new support mechanisms for Ukraine.
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