Gazprom’s subsidiary management company sued Euroclear for 122.5 million rubles.

The Moscow Arbitration Court satisfied the claim of Management Company Leader (shareholders include VEB.RF, PJSC Gazprom, NPF Gazfond and Gazprombank) against the Belgian depository Euroclear and recovered 122.5 million rubles from it. coupon income on frozen bonds, reported “Vedomosti”. According to the publication, the management company through the court tried to seize from the depository the funds that Gazfond transferred to it for trust management.

During the meeting, a representative of Euroclear asked the court to take into account that the company is forced to follow the norms of Belgian legislation, which prohibits paying accounts of the Russian National Settlement Depository, the newspaper reports. The depositary’s defender noted that Euroclear is obliged to follow the public law of its country. “This is the same as demanding to recover damages from a Russian person for complying with Russian law,” the lawyer said.

As reported by Vedomosti, at the meeting, a Euroclear representative expressed the opinion that Leader Management Company, before filing an application to the court, should and still should apply to the Belgian Treasury in order to obtain a license to unblock funds. To this, the representative of the Russian company replied that the Criminal Code has the right to defend in court rights that have already been violated.

The Russian court upheld the claims against Euroclear Rosbank, MTS Bank and Bank St. Petersburg. In October 2023 became knownthat St. Petersburg became the first Russian financial institution to win a case against Euroclear in a foreign court. December 20 Transcapitalbank submitted claim for 1.8 billion rubles. to the Belgian depositary in the Moscow Arbitration Court. There are currently more than 80 lawsuits against Euroclear in Russian courts.

Erdni Kagaltynov