Bank of Russia

Rule Changes

Escalated from single Moscow lawsuit to announced multi-jurisdiction enforcement strategy; pursuing damages in Russian courts, foreign jurisdictions, and international tribunals

Russia's central bank sued Euroclear in Moscow on December 12, seeking €193.7 billion in damages. Six days later the plan that triggered the lawsuit—using frozen reserves to back Ukraine loans—collapsed at the European Council. Belgium refused the legal risk; the EU pivoted to a €90 billion conventional loan backed by its own budget instead.

Updated May 15