Russian court upholds $250B frozen-assets ruling against Euroclear; depository to appeal

A Russian court rejected Euroclear's appeal over a ruling that effectively transfers control of roughly $250 billion in frozen Russian assets to Russian authorities. Euroclear has set aside €162 million for claims in Russian courts and vows further legal action. This escalates the legal and financial standoff over asset freezes tied to Western sanctions, raising uncertainty for international custodians and the broader sanctions regime.

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