Russia's Central Bank Challenges EU Asset Use Plans

Russia's central bank has declared the European Union's plan to use its assets as illegal, vowing to use all legal means to protect its interests. It filed a lawsuit against Brussels-based Euroclear, asserting breaches of sovereign immunity and international law. The EU intends to freeze Russian assets in support of Ukraine.

The central bank of Russia has openly condemned the European Union's strategy to utilize its assets, labeling the move as illegal and in violation of international law. In response, the bank has vowed robust legal action to safeguard its interests.

Russia initiated a legal challenge against Euroclear, a financial institution in Brussels, citing actions that hindered its financial operations. The central bank's sharp rebuke centers on unauthorized asset usage, a stance bolstered by claims of sovereign immunity breaches.

EU proposals involve leveraging frozen Russian assets to aid Ukraine, a plan strongly opposed by Russian officials. The EU seeks to extend the asset freeze duration, signaling a potential intensification of legal battles across multiple international arenas.

(With inputs from agencies.)