Moscow Arbitration Court Fully Grants Bank of Russia’s Lawsuit Against Belgian Depositary Euroclear
The Moscow Arbitration Court fully granted the Bank of Russia’s lawsuit against the Belgian depositary Euroclear to recover 18.17 trillion rubles (200 billion euros). The Central Bank put its losses from the freezing of Russia’s foreign assets at that amount, RBC reports.
The court proceedings were held behind closed doors.
“The right to a fair trial was clearly violated. Given the closed nature of the proceedings, which we objected to, we cannot disclose any additional details,” Euroclear representative Sergey Savelyev told the outlet.
He added that the European depositary intends to appeal the court’s decision.
Trillions Awarded Out of Public View
A Moscow court awarded 18.17 trillion against the Belgian depository behind closed doors.
Justice worked best once nobody could watch.