Russian Central Bank: EU Plans to Use Russian Assets Are Illegal

The Russian Central Bank stated today that the European Union’s plans to use its assets are illegal and that it reserves the right to use all available means to protect its interests.

In a separate statement, as reported by Reuters, the Russian Central Bank said it is suing the financial institution Euroclear, headquartered in Brussels, which holds a large portion of Russian assets, before a Moscow court.

The lawsuit concerns, as stated, harmful actions affecting the Russian Central Bank’s ability to manage its funds and securities.

“Any mechanisms for the direct or indirect use of the Bank of Russia’s assets, as well as any other forms of unauthorized use of Bank of Russia property, are illegal and contrary to international law, including the violation of the principle of sovereign immunity of assets,” the Bank said.

Euroclear, the Belgian government, and the European Commission have not issued comments regarding the statement by the Russian Central Bank.