Euroclear rejects $254bn payment order in Bank of Russia case
Moscow court’s ruling in favour of central bank ‘completely without merit’, says Belgian firm
Euroclear has said it will appeal a decision by a Moscow court ordering it to unfreeze assets belonging to the Bank of Russia.
In a statement on May 18, the Belgium-based clearing house said the Moscow Court of Arbitration’s decision was the “latest in a series of legal claims brought against Euroclear in Russia” that were not recognised under European Union law. The firm added that it did not recognise Russia’s jurisdiction in the case and said the decision would not affect its operations or
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