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Moscow court orders Euroclear to pay compensation to Russia's central bank over seized assets
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Moscow court orders Euroclear to pay compensation to Russia's central bank over seized assets

The Independent·Via AP news wire·17 days ago
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A court in Moscow ruled in favor of the Russian Central Bank in its lawsuit against Euroclear, the Brussels-based clearing house that holds the bulk of Russian assets frozen by the European Union , Russian media reported Friday. The lawsuit sought to recover 18.2 trillion rubles ($249.7 billion) in damages incurred when Russia was barred from managing and disposing of its Euroclear funds and securities, according to reports. Russian news outlet RBC on Friday quoted Euroclear's lawyers Maxim Kulkov and Sergei Savelyev as saying that Moscow's Arbitration Court, which heard the case behind closed doors, upheld the Central Bank's claim in full. The lawyers argued that Euroclear's right to a fair trial was violated, with Savelyev cited as saying the clearing house intends to appeal. The Central Bank is satisfied with the court's decision, its representative told RBC.…

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