Russia’s central bank said on Friday European Union plans to use its assets were illegal and it reserved the right to employ all available means to protect its interests.
It said separately it was suing Brussels-based financial institution Euroclear – which holds many of the assets – in a Moscow court over what it said were damaging actions, affecting its ability to dispose of its funds and securities.
The EU looked set later on Friday to indefinitely freeze Russian central bank assets held in Europe, removing a big obstacle to using the cash to help Ukraine.
“Mechanisms of direct or indirect use of the assets of the Bank of Russia, as well as any other forms of unauthorized use of the assets of the Bank of Russia, are illegal and contrary to international law, including violating the principles of sovereign immunity of assets,” the Russian central bank said.
Euroclear, Belgium’s government and the European Commission did not immediately respond to requests for comment.
Evgeny Kovalyov of Russian law firm Delcredere said the lawsuit in a Russian court was “symbolic” and would be hard to execute in the EU.
“So, they will choose either the Russian jurisdiction or the jurisdictions of friendly countries where there are assets of European companies and, primarily, Euroclear,” Kovalyov said.
REUTERS
