Moscow appeals court upholds 18.17-trillion-ruble order against Euroclear, the Belgian depository holding €190 billion of Russia’s frozen funds

Meduza reports that a Moscow appeals court has upheld an eighteen-point-seventeen trillion ruble judgment against Euroclear, the Belgian securities depository holding roughly one hundred ninety billion euros in Russian assets frozen since the invasion of Ukraine. Russia's central bank brought the lawsuit in December twenty twenty-five, alleging unlawful conduct; a lower court sided with the bank in May, and this appeals court has now confirmed that ruling. Euroclear continues to maintain that the assets are locked under international sanctions and that the lawsuit lacks merit. The European Union has frozen Russian assets indefinitely, with conditions for their release: Russia must end the war in Ukraine and compensate the country for damages sustained.

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