The Central Bank of Russia has filed a claim with the General Court of the European Union challenging the EU framework for support to Ukraine in 2026–2027 to the extent that it allows the EU to use the Bank’s immobilised assets to repay a loan granted to Ukraine. The Bank argues that the measure effectively treats its sovereign assets as loan collateral and amounts to an unlawful expropriation of those assets. The action, filed on 22 May 2026 under Article 263 of the Treaty on the Functioning of the European Union, targets Regulation No. 2026/467 of 24 February 2026. In the Bank’s view, the regulation goes beyond ordinary financial and economic cooperation with a third country because it alters the legal and economic regime of sovereign assets, in breach of EU law, fundamental rights and principles of international law, including sovereign immunity for states and central banks. It also said it reserves all rights, claims, counterclaims and defences in all available jurisdictions to contest EU or EU member state measures affecting the Bank or its assets.
Central Bank of Russia2026-05-25
Central Bank of Russia files EU court challenge against regulation allowing use of immobilised assets to repay Ukraine loan
The Central Bank of Russia has filed a claim with the General Court of the European Union challenging Regulation No. 2026/467, which permits the use of its immobilised assets to repay an EU loan to Ukraine under the 2026–2027 support framework. It argues the measure unlawfully treats its sovereign assets as loan collateral, constitutes expropriation, breaches EU law and fundamental rights, violates principles of international law including sovereign immunity, and reserves all rights and remedies in all jurisdictions.