Russian Central Bank Sues EU in Luxembourg on Frozen Assets
Source: Bloomberg
March 3, 2026 at 1:03 AM EST
Updated on March 3, 2026 at 7:41 AM EST
The Bank of Russia is suing the European Union for putting an indefinite freeze on assets blocked over President Vladimir Putin�s invasion of Ukraine, arguing that it�s being deprived of legal protections in a first challenge of its kind since the war erupted. The claim filed with the EU�s General Court in Luxembourg contests the European Council�s regulation of Dec. 12, 2025, according to a Russian central bank statement published Tuesday.
The EU regulation violates �basic and inalienable rights to access justice, inviolability of property, and the principle of sovereign immunity of States and their central banks� that are guaranteed under international law, according to the statement.
EU member states in December approved extending a freeze on some �210 billion ($246 billion) of Russian sovereign assets that have been held in the bloc since Putin ordered the full-scale invasion of Ukraine in February 2022. The EU intends to keep the assets immobilized until the war ends and Russia pays reparations to Ukraine.
Most of the money is held in Euroclear, and the Belgian government has been resisting EU efforts to make use of the funds to back a loan supporting Ukraine. While the Russian central bank is suing on a relatively narrow issue of law, the suit risks exposing the regulator to questioning and scrutiny of its economic actions in support of the Kremlin�s war on Ukraine that�s now in its fifth year.
Read more: https://www.bloomberg.com/news/articles/2026-03-03/russia-s-central-bank-sues-eu-in-luxembourg-over-frozen-assets
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