🇷🇺 RUSSIA SUES FOR $229 BILLION OVER FROZEN CASH IN EUROPE
Russia wants its money back and it’s asking for a whopping $229 billion from Euroclear, a major financial clearinghouse in Belgium.
The lawsuit, filed in a Moscow court, claims Euroclearâs âunlawful actionsâ blocked the Kremlin from accessing its own assets and the income earned from them.
This is all about Russiaâs frozen central bank reserves, locked away in Europe since Putin invaded Ukraine in 2022. Most of it, over âŹ200 billion, is stuck in Euroclear accounts.
The EU wants to use the interest from those frozen funds to help finance a âŹ90 billion loan for Ukraine. Moscow isnât having it.
Russia is threatening legal action not just in its own courts, but in any country that touches the money.
Officials say theyâll âchallenge any use of the assetsâ and enforce court decisions globally if needed.
Meanwhile, Brussels is still arguing over whether using the funds will open the door to financial retaliation from Moscow – or expensive legal losses.
So now youâve got: Russia suing for hundreds of billions, Europe trying to bankroll Ukraine without getting sued, and everyone lawyering up.
If you thought geopolitics was dramatic, wait until the accountants show up.
Source: Bloomberg, Tass
This is crazy. And I thought drama was only in Africa.