Key facts
- Russia's Central Bank filed a lawsuit against the European Parliament and EU Council.
- The lawsuit challenges an EU mechanism allowing proceeds from frozen Russian assets to repay a loan to Ukraine.
- The EU mechanism concerns approximately €90 billion ($105 billion) in loans to Kiev.
- Moscow claims the scheme violates EU law, property rights, and sovereign immunity.
- Western backers froze about $300 billion in Russian sovereign assets after the 2022 Ukraine conflict escalation.
This legal challenge highlights the ongoing financial and geopolitical battle over Russia's frozen assets following the invasion of Ukraine. The EU's efforts to utilize these assets for Ukraine's reconstruction and support are being met with strong legal opposition from Moscow, which views such actions as theft and a violation of international norms.