Sunday, December 14, 2025
Putin’s frozen assets could bring Europe ‘to a standstill’
EU Economy Commissioner Valdis Dombrovskis has dismissed a lawsuit filed
by the Russian central bank against Euroclear, the Brussels-based
depository which holds most of Russia’s frozen sovereign assets, calling
it “speculative.”
EU downplays Russian lawsuit against Euroclear
Economy Commissioner Valdis Dombrovskis has called
the case “speculative,” insisting that the bloc is acting within its
legal prerogatives
Kiev’s Western backers froze around $300 billion in Russian central bank assets under Ukraine-related sanctions, most of it held at Euroclear.
Moscow has long condemned the move. The Bank of Russia announced on Friday that it is filing a lawsuit seeking compensation from Euroclear for damages stemming from its “inability to manage” the assets. This comes amid a dispute between EU nations that are pushing to use the assets as collateral for a ‘reparations loan’ for Kiev, and those that are opposed. A vote on the plan is expected next week.
Speaking to reporters on Friday, Dombrovskis said the assets were frozen “in line with EU sanctions and international law,” claiming they were “not seized” and that “the principle of sovereign immunity is respected.”
“We can expect that Russia will continue to launch speculative
legal proceedings to prevent the EU from upholding international law,” he said, adding that the frozen assets fall under EU jurisdiction.
Dombrovskis insisted that European institutions holding Russian assets will be
His remarks come after the bloc
- approved controversial legislation on Friday changing the mechanism for keeping the assets frozen,
- replacing the current system with a long-term arrangement that could keep the freeze in place indefinitely and
- shield it from vetoes by opposing states.
The move is seen as the first step toward advancing a ‘reparations loan’.
- Some EU states, including Belgium, have raised concerns over the scheme, citing legal and financial risks.
- Euroclear has criticized it as “fragile” and overly experimental.
Russia has condemned the idea of using its assets to aid Ukraine. Kremlin spokesman Dmitry Peskov called it “a grand scam.”
Some analysts view the lawsuit against Euroclear as the opening round in Russia’s fight against the legislation.
Although the case was filed in a Russian court, they warn that if it spreads to other jurisdictions, it could trigger lengthy litigation harmful to both Euroclear and the EU, creating logistical hurdles, reputational risks, and damaging the bloc’s investment climate.
You can share this story on social media:
In an audacious move, the EU has decided to indefinitely immobilise the Russian sovereign assets, pushing back against external pressure to release. . .
Putin’s frozen assets could bring Europe ‘to a standstill’
Top stories
Russia’s Central Bank sues Belgian clearinghouse Euroclear over frozen assets as E.U. weighs ‘reparations loan’ to Ukraine
2 days ago
Saturday, December 13, 2025
Starlink in Iraq
Starlink, a US satellite-based internet provider owned by billionaire Elon Musk, has sent its executives to Iraq to prepare for entry into the lucrative Arab market.
Starlink team in Iraq for final licensing talks
Thaier Al-Sudani/Reuters
- Mohammed Al-Sudani met delegation
- Final stages of granting licences
- Starlink ready to begin operations
Starlink is very close to launching in Iraq
,
with SpaceX executives meeting with Iraqi officials in Baghdad in
December 2025 to finalize licensing, as Iraq's government, led by Prime
Minister Mohammed Shia' al-Sudani, actively supports digital expansion
and aims to integrate Starlink for enhanced connectivity, overcoming
past restrictions by working towards official approval for services
across the country. This video explains the context behind bans on Starlink in other countries:
43s
Yes,
Starlink executives visited Iraq recently (December 2025) for final
licensing talks with Prime Minister Mohammed Al-Sudani, signaling
readiness to launch services and support Iraq's digital growth, with
Iraq welcoming the move to boost tech investment and infrastructure,
following earlier discussions about market entry
. Key Details:
- Meeting: Iraqi Prime Minister Al-Sudani met with a SpaceX (Starlink) delegation in Baghdad, joined by the U.S. Chargé d'Affaires.
- Purpose: Discussing final steps for Starlink's satellite internet license, strengthening cooperation, and expanding services in Iraq.
- Iraq's Stance: The government is keen on attracting tech companies, improving infrastructure, and enhancing digital transformation, viewing Starlink as a key partner.
- Starlink's Readiness: The company expressed readiness to begin operations soon after licensing, supporting digital progress and economic development.
Context:
- This follows earlier talks in May 2025 where Al-Sudani directed authorities to facilitate Starlink's entry, recognizing Iraq's potential for major tech investments.
- Starlink's expansion into the lucrative Middle Eastern market, including recent approvals in Saudi Arabia, highlights its strategic push to offer high-speed internet where terrestrial infrastructure is weak.
Subscribe to:
Comments (Atom)
AD COSTS: OpenAI's ChatGPT on Par with Live NFL Broadcasts
OpenAI's ChatGPT ad costs are on par with live NFL broadcasts By Mayank Parmar January 27, 2026 07:04 PM ...
-
Flash News: Ukraine Intercepts Russian Kh-59 Cruise Missile Using US VAMPIRE Air Defense System Mounted on Boat. Ukrainian forces have made ...
