Russia Sues Holder of Frozen Assets Europe Wants for Ukraine Loan

New York Times - WorldCenter-LeftEN 4 min read 100% complete by Paul Sonne and Jeanna SmialekDecember 12, 2025 at 03:24 PM

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medium article 4 min

Russia's Central Bank filed a lawsuit in Moscow against Euroclear, a Belgium-based depository holding approximately €185 billion in frozen Russian state assets, on December 12, 2025. The lawsuit is a warning to European officials who are considering using these assets to provide a substantial loan to Ukraine. Russia accuses Euroclear of "unlawful activities" that prevent Moscow from accessing its funds. European leaders are discussing a plan to use the frozen assets as collateral for a €90 billion loan to Ukraine, contingent on Russia paying reparations. Russia views this plan as theft and intends to challenge it legally, despite European leaders arguing the plan is legal because the assets are not being directly seized.

Key Entities & Roles

Key Player Opposition Context

European Union 40% Belgium ×250% Ukraine ×460% Russia's Central Bank ×270% Euroclear ×380% Vladimir Putin ×2100%

Keywords

frozen assets 90% ukraine 80% russia 80% euroclear 70% lawsuit 70% russian central bank 60% loan 60% legal challenge 50% european union 50% reparations 40%