Euroclear Bank has appealed against rulings awarding the Central Bank of Russia approximately €200 billion in compensation. The appeal was submitted to the Moscow Arbitration Court on September 24.
The appeal is expected to be sent, together with the case file, to the Arbitration Court of the Moscow Region.
Rulings against Euroclear
On May 15, the Moscow Arbitration Court fully upheld the lawsuit filed by the Central Bank of Russia against Euroclear. Under the ruling, Euroclear will pay approximately €200 billion in damages in seven different currencies.
In July, the Ninth Arbitration Court of Appeal rejected Euroclear Bank’s appeal against the initial ruling. The decision brought the Moscow Arbitration Court’s ruling into force.

Enforcement proceedings
At the request of the Central Bank of Russia, the Moscow Arbitration Court ordered the ruling’s immediate enforcement on May 26. On June 2, the court issued the Central Bank of Russia an enforcement document for compulsory execution.
The Central Bank of Russia’s assets were frozen after Russia launched its military operation in Ukraine. According to the central bank’s assessment, approximately €200 billion of the principal amount, including lost income, is held at Euroclear, Europe’s largest central securities depository.