Russian company files lawsuit worth nearly $2B against Euroclear Bank

MOSCOW

A Russian company on Wednesday filed a lawsuit worth 184.8 billion Russian rubles ($2 billion) against Euroclear Bank, the world’s largest foreign central custodian.

Pervaya, a Moscow-based asset management company, filed the lawsuit due to its assets being frozen as a result of Western sanctions implemented due to the Russia-Ukraine war, according to information contained in the documents of the Moscow Arbitration Court.

Details on how the compensation amount was determined were not included in the documents.

As of last September, the value of the assets managed by Pervaya amounted to 1.44 trillion Russian rubles (15.8 billion).