The central bank describes it as suffering financial losses from Euroclear's actions, the state-run Tass news agency reports. A claim for compensation has been filed with an arbitration court in Moscow.
A message on the central bank's website claims that the European Commission's proposed measures to use the Russian assets are illegal. Any measures that directly or indirectly use the assets will be unconditionally contested, it says.
The European Commission is proposing that the Union use Russian money to provide Ukraine with a multi-billion-dollar loan during Russia's war of invasion. The member states are negotiating in full swing, and Belgium, where Euroclear and the assets are located, has stood in the way. The Belgian government says it is seeking guarantees to avoid future claims for damages from Russia.
The Commission has presented an alternative proposal in which a large loan is given to Ukraine with the EU budget as collateral, but this requires the agreement of all member states.
According to the European Commission's calculations, there are a total of 210 billion euros in frozen Russian state assets in the EU.
The majority – 185 billion – is held by the securities institution Euroclear in Belgium. The other 25 billion is held by other institutions in the country, but also in France, among others. There is also a smaller amount in Sweden – but only around 120,000 kronor.
Of the assets, the European Commission now wants to earmark €45 billion for repayment of previous loans that Ukraine received through a G7 deal last year. €90 billion is proposed to be lent to Ukraine in 2026 and 2027, leaving €75 billion available for possible future needs for the country.
Source: European Commission, Minister for Foreign Affairs Maria Malmer Stenergard.
