Russian Court Enforces Ruling Against Euroclear

A Moscow arbitration court has agreed to the Russian central bank's request for immediate enforcement of a judgment against Euroclear. This decision pertains to the case involving damages from the freezing of assets valued at 18.17 trillion roubles. Russian law allows such enforcement to prevent significant losses.

A Moscow arbitration court has upheld the Russian central bank's application for swift enforcement of a judgment in its legal battle against Euroclear, according to statements made by Euroclear's legal representatives on Tuesday.

The ruling, confirmed by the court on May 15, concerns the central bank's claim for damages resulting from the freezing of assets totaling 18.17 trillion roubles, equivalent to $252.38 billion.

In alignment with Russian legislation, the court can decree immediate enforcement of a judgment if postponement could result in considerable financial losses or complicate future enforcement efforts.