Russia’s Central Bank files lawsuit against EU: what Moscow is challenging
3 March 16:14
The Central Bank of Russia has filed a lawsuit against the European Union in a Luxembourg court, challenging the indefinite freezing of assets blocked after Russia’s full-scale invasion of Ukraine. This was reported by Bloomberg , according to "Komersant Ukrainian".
The lawsuit was filed with the General Court of the European Union. The regulator’s statement says that it is challenging the European Council regulation of December 12, 2025.
What exactly is Moscow challenging?
The Bank of Russia claims that the EU’s decision violates “the fundamental and inalienable rights of access to justice, inviolability of property, and the principle of sovereign immunity of states and their central banks.”
This refers to the freezing of approximately €210 billion in Russian sovereign assets held in EU countries. In December, the bloc agreed to continue blocking them until the end of the war and Russia’s payment of reparations to Ukraine.
Where the funds are stored
Most of the frozen assets are held in the Belgian depository Euroclear. According to Bloomberg, the Belgian government is cautious about the idea of using these funds as collateral for loans to support Ukraine.
The issue of confiscating or using the proceeds from the assets remains a subject of debate within the EU and among Ukraine’s partners.
Possible consequences
Although the lawsuit formally concerns the legal aspects of the regulation, the case may draw additional attention to the role of the Russian Central Bank in financing the country’s economy during the war. The legal process could potentially drag on for years.
Earlier, the Russian regulator said it would expand its legal actions, including filing lawsuits against European banks in Russian courts. Moscow insists that plans to use frozen assets to help Ukraine are illegal.
