Dec 14, 2025
EU dismisses Russia's lawsuit against Euroclear as 'speculative' and groundless
Copyright European Union, 2025
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As the EU rushes to approve a reparations loan for Ukraine, the Russian Central Bank has launched a lawsuit against Euroclear, the institution that holds €185 billion of its assets.
The European Commission has dismissed as "speculative" and
groundless a lawsuit launched by the Russian Central Bank against
Euroclear, the Brussels-based central securities depository that holds
€185 billion in immobilized assets.
- In a short statement published on Friday morning, the Russian Central Bank announced the start of legal proceedings for the "recovery of damages" and blamed Euroclear for preventing the release of the assets, which are subject to EU law.
- The lawsuit was submitted to the Arbitration Court in Moscow.
The development comes with the EU still hammering out a plan to channel Russia's sovereign assets into a zero-interest reparations loan to Ukraine, a process with Euroclear at its centre. EU leaders are meant to make a final decision when they meet on 18 December.
December, 09:06
Viktor Orbán. Photo: Getty Images
Hungary's Prime Minister Viktor Orbán has commented on the
European Union's decision adopted on Friday to permanently freeze
Russian assets.
Source: Hungarian newspaper Magyar Nemzet, as reported by European Pravda
Details: Speaking at a rally in the town of Mohács, Orbán sharply criticised the European Union's decision to freeze Russian assets.
"Seizing hundreds of billions belonging to another state has
never gone unanswered in history.
This is a declaration of war," he said
during the so-called anti-war rally in Mohács, one of a series of
pre-election meetings with voters ahead of the parliamentary elections
scheduled for April next year.
Hungary's prime minister also said that ignoring Budapest in the decision-making on Russian assets showed that "the illusion of the rule of law in Brussels has dissipated".
He further warned his supporters that they should prepare for "Brussels' third attempt to win elections in their country".
Background:
- On 12 December, European Union ambassadors approved a decision to freeze Russian assets held in Europe for an indefinite period.
- EU Ambassador to Ukraine Katarína Mathernová said that following Friday's decision by the European Union, Russia would not gain access to its Central Bank's frozen assets held in Europe even through "back doors".
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Uploaded: Dec 14, 2025
Uploaded: Dec 14, 2025
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