Russian central bank files second claim to EU court over frozen assets

The Russian central bank ​said on Monday it had filed ​a second claim with ‌the General ​Court of the European Union, challenging the EU regulation that allows the use of Russia's frozen ‌sovereign assets to repay the EU's loan to Ukraine.

The Russian central bank ​said on Monday it had filed ​a second claim with ‌the General ​Court of the European Union, challenging the EU regulation that allows the use of Russia's frozen ‌sovereign assets to repay the EU's loan to Ukraine. "The EU’s framework challenged by the Bank of Russia treats its sovereign assets as an element of financial ‌support for a third country, altering the legal and economic regime ‌of sovereign assets," the central bank said.

The regulation, dated February 24, 2026, said the EU's loan to Ukraine should be repaid only when Ukraine receives reparations from Russia for its ⁠invasion ​in 2022, while ⁠the EU should reserve the right to use Russia's frozen assets to repay Ukraine's debt. The Russian ⁠central bank estimates that about $300 billion of Russia's sovereign funds have been frozen ​by Western countries. Most of these assets are frozen in Europe and ⁠are held at the Belgian depository Euroclear.

Last March, the central bank challenged a move ⁠in ​December 2025 to freeze its assets in Europe indefinitely, arguing that the freeze was introduced with "serious procedural violations." The claim was also filed with ⁠the EU's General Court. On May 15, a court in Moscow upheld the ⁠Russian central ⁠bank's claim to recover damages from Euroclear related to the freezing of assets worth 18.17 trillion roubles ($253.77 billion). ($1 = 71.6000 ‌roubles)