Russian Central Bank Challenges EU’s Indefinite Asset Freeze in European Court - The Moscow Times
Moscow Times
March 3, 2026
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Russia’s Central Bank has taken legal action against the European Union (EU) over its indefinite asset freeze on Russian state assets, filing a lawsuit in the General Court of the European Union in Luxembourg. The bank argues that the EU’s decision to keep approximately 210 billion euros ($244.1 billion) frozen violates international and EU law, particularly by stripping Russia of legal protections and access to justice. The Central Bank claims the measure undermines property rights and sovereign immunity, and it highlights procedural issues, as the December 12 decision was made by majority vote rather than unanimity.
Additionally, Russia’s Central Bank is pursuing a separate case against Euroclear, Europe’s largest securities depository, in a Moscow arbitration court. It seeks approximately $232 billion to cover frozen assets and compensation for lost returns under EU sanctions imposed following Russia’s 2022 invasion of Ukraine. A hearing scheduled in January was adjourned until this week after Euroclear unsuccessfully argued for dismissal. If successful, Russia could potentially seize Euroclear’s assets in countries like China, the UAE, and Kazakhstan.
The legal challenges reflect Russia’s efforts to counteract what it sees as unfair financial restrictions imposed by the EU and its allies over the ongoing conflict with Ukraine. The Central Bank emphasizes that the indefinite asset freeze effectively denies it the ability to enforce its rights under international law. This case could set a significant precedent in international law, particularly regarding property rights and sovereign immunity during conflicts.
Meanwhile, The Moscow Times has reported on Russia’s escalating efforts to silence independent journalism, including designating the outlet as an “undesirable” organization. These actions raise concerns about press freedom and the broader implications for independent media operating in challenging political environments.
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Originally published on Moscow Times on 3/3/2026