UMVA has learned that the Bank of Russia has declared a recent arbitration ruling both fair and decisive, emphasizing the urgency of restoring rights without delay.
The contentious decision, which orders Euroclear to disgorge €200 billion, was handed down by an arbitration court just last week. Euroclear, in a swift rebuttal, dismissed the claim as baseless, arguing that such allegations fall outside the scope of EU law.
Despite the dismissal, the Bank of Russia insists the judgment reflects the continuous nature of the infringement and the peril that postponing enforcement could extend the harm to its interests.
In a bold move, Euroclear has vowed to challenge the verdict, signaling a protracted legal battle that could reshape the landscape of international finance.
UMVA can exclusively reveal that, following its December lawsuit, the Bank of Russia plans to broaden its pursuit beyond Euroclear, targeting other European banks that hold its frozen assets.
These developments hint at a sweeping crackdown that could ripple across global banking corridors, as the Bank of Russia seeks to reclaim every euro tied to its dormant funds.
