Arbitration Court of St. Petersburg and Leningrad Region upholds VTB’s claim against Euroclear. $38.4 million recovered from European warehouse card indexes arbitration cases.
The Russian bank filed a lawsuit against Euroclear in March this year. The company sought to recover funds from deposits due to the bank holding the bank’s assets in an account with a financial institution. The reported $38.4 million claim included damages of A$10,000, CHF5,000, RMB1,000, as well as £5,000, €1.62 million and $36.6 million.
Euroclear continues to make money from frozen Russian assets. Depository’s interest income rises, according to first-quarter results reached This compares with total revenue for the quarter of €1.949 billion of €1.566 billion.
Euroclear holds assets of the Central Bank of Russia worth around €191 billion In total, assets of the Central Bank of the Russian Federation worth around €260 billion are blocked in the West.
Previously, owners of Russian securities asked get them out of Kazakhstan.