Central Bank of Russia to file lawsuit against Euroclear in Moscow Arbitration Court on Friday

MOSCOW. Dec 12 (Interfax) - The Central Bank of Russia intends to file a lawsuit against the Belgium-based Euroclear depository with the Moscow Arbitration Court on Friday.

"The lawsuit will be filed electronically today on Friday. The amount of damages comprises the value of the Central Bank's frozen funds, as well as the value of the frozen securities and lost profits," the CBR's press service told reporters.

The Central Bank is also considering defending its interests in international courts and arbitration tribunals, with subsequent enforcement of the rulings of these courts in United Nations member states.

"The procedure for executing the court order using the defendant's (Euroclear) assets, including those located in foreign jurisdictions, both friendly and unfriendly countries, will be determined after the court's decision enters into legal force," the Central Bank emphasizes.

The lawsuit encompasses damages caused to the Central Bank of Russia "by the illegal actions Euroclear", as well as the European Commission's officially announced plans to freeze the Central Bank's funds permanently and plans to transfer the Russian regulator's assets to third parties.