Bank of Russia files claim with EU General Court to challenge restrictions on recognition and enforcement of Russian court orders in other jurisdictions

On 15 September 2026, the Bank of Russia filed a claim with the General Court of the European Union (a court of general jurisdiction) to challenge Article 1(28) of Regulation of the Council of the European Union No. 2026/1848, dated 23 July 2026 (hereinafter, the EU Regulation). This article introduces a mechanism allowing the courts of EU member states to prohibit Russian natural and legal persons from seeking to recognise and enforce certain orders of Russian courts in any jurisdiction, among other things.

This document is a direct attempt to intervene in the current court proceedings in Belgium and prevent the Bank of Russia from enforcing the order delivered by the Arbitration Court of the City of Moscow on Case No. А40-345157/2025 initiated by the Bank of Russia against Euroclear.

The measures set forth in the EU Regulation involve disproportionate restrictions on the protection of the Bank of Russia’s rights outside the EU, including the application of financial sanctions for breaching related injunctions.

The Bank of Russia believes that these measures contradict the principles of access to justice, legal certainty, and the sovereign immunity of states and their central banks, among other things. Additionally, the mechanism banning legal actions in any jurisdictions, introduced by the EU Regulation, is extraterritorial in nature, which cannot be considered lawful.

The Bank of Russia reserves all rights, claims, counterclaims, and defences available to it in connection with the EU Regulation and any other measures taken by the EU and/or its member states in relation to the Bank of Russia or its assets.

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17.09.2026 15.25.00