Russian Central Bank begins EU Court challenge to regulation freezing its assets

4 March 2026

The Russian Central Bank has begun proceedings before the General Court of the European Union challenging the legality of an EU regulation which prohibits all direct or indirect transfers of the Bank’s assets and reserves held in the EU. The case is listed as T‑150/26.

Regulation (EU) 2025/2600 was adopted by majority vote of the Council in December 2025. It introduces “exceptional and temporary emergency measures” intended to address economic difficulties within the Union arising from Russia’s war against Ukraine. The measures apply to the Bank’s assets held in the EU, most of which are held by Euroclear in Belgium. The regulation removes the previous requirement for the asset freeze to be renewed unanimously every six months and allows it to remain in place as long as economic risks persist.

According to the Bank’s press release, it brought the action under Article 263 TFEU, which empowers the Court to review and annul EU acts that breach the EU treaties or procedural requirements. The Bank argues that Regulation 2600 breaches its property rights, restricts access to justice and breaches the principle of sovereign immunity. It also relies on Article 215 TFEU, which governs the adoption of EU restrictive measures. The Bank says Article 215 requires the Council to act unanimously, and that adopting Regulation 2600 by majority vote rendered the measure unlawful.

The application setting out the detailed grounds has not yet been published.