IT'S ALREADY THE SIXTH. URAL BANK FILED A LAWSUIT AGAINST EUROCLEAR

The Ural Bank for Reconstruction and Development has filed a lawsuit against the world's largest settlement and clearing system Euroclear. The corresponding application was submitted to the Arbitration Court of the Sverdlovsk region.

As Vedomosti clarifies, the amount of requirements for the European settlement depository is currently unknown. This is the sixth lawsuit against Euroclear.

Recall that earlier it became known about another lawsuit against Euroclear. It was submitted by the Management Company "First". The amount of claims is 184.8 billion rubles. In 2022, Euroclear blocked operations for Russian investors on assets that it accounted for on the account of the National Settlement Depository.

In addition, Euroclear received a class action from Russian private investors in the amount of over 1 billion rubles. Earlier, lawyers have already sent a pre-trial claim, in which they demanded to unblock the assets of Russian citizens frozen in Europe and compensate for losses. As explained, the settlement and clearing system violated both Russian and international laws.