Euroclear

Stories

Ukraine’s drone war reaches deeper into Russia as Moscow claims another Kharkiv gain

Closed-door preliminary hearing held Jan 16 in Moscow lawsuit; Russia seeks over $225 billion over frozen €193 billion assets

Ukraine's drone campaign reached deeper into Russia. Russia's Defence Ministry said it shot down 1,214 Ukrainian drones overnight into October 29, and Moscow Mayor Sergei Sobyanin said 231 were destroyed on the approach to the capital. Earlier, Ukrainian strikes hit a chemical plant in Voronezh on October 26 and an ammunition depot in occupied Luhansk.

Updated Oct 29

Russia’s central bank goes to court against Euroclear, opening a new front in the frozen-reserves war

Rule Changes

As of May 2026: Custodian of the largest share of immobilised Russian central bank reserves; facing Moscow litigation and retaliation risk

Russia's central bank sued Euroclear in Moscow on December 12, seeking €193.7 billion in damages. Six days later the plan that triggered the lawsuit—using frozen reserves to back Ukraine loans—collapsed at the European Council. Belgium refused the legal risk; the EU pivoted to a €90 billion conventional loan backed by its own budget instead.

Updated May 15