Legal claims issued against Euroclear in Russia are not recognised under European Union law, the Brussels-based financial institution stated on Friday in response to a ruling by an arbitration court in Moscow.
The court ordered Euroclear to pay over €200 billion in damages, claimed by the Central Bank of Russia for Russian assets blocked since the invasion of Ukraine.
In response to the ruling, Euroclear stated that the claims made by the Russian Central Bank were unfounded.
The international financial company pointed out that similar lawsuits are ongoing in Russia but clarified that such claims hold no legal standing under EU law.
It added that Euroclear does not recognise the jurisdiction of Russian courts in such cases, and would appeal against the ruling.
According to Euroclear, its operations and financial position remain unaffected by the decision of the Russian court.
The institution reiterated that the Russian assets remain frozen in compliance with international sanctions.
