The Bank of Russia challenges in the EU Court of Justice restrictions on the recognition of Russian court decisions and their enforcement in all countries
On September 15, 2026, the Bank of Russia filed an application to the General Court (court of general jurisdiction) of the European Union challenging Article 1(28) of Council Regulation No. 2026/1848 of 23 July 2026 (Regulation). The contested rule introduces a mechanism that allows courts of European Union member states to prohibit Russian persons, among other things, from applying for recognition and enforcement of individual decisions of Russian courts in any jurisdiction.
This document is a direct attempt to interfere in the current legal proceedings in Belgium and prevent the Bank of Russia from implementing the decision of the Arbitration Court of Moscow in case No. A40-345157/2025, made on the claim of the Bank of Russia against Euroclear.
The measures established by the Regulation create disproportionate restrictions on the protection of the Bank of Russia’s rights outside the European Union, including the application of financial sanctions for violation of relevant injunctions.
According to the Bank of Russia, these measures contradict, in particular, the principles of access to justice, legal certainty, as well as the principle of immunity of states and central banks. In addition, the prohibition mechanism provided for in the Regulations in any jurisdiction is extraterritorial in nature, which cannot be considered legitimate.
The Bank of Russia reserves all rights, claims, objections and remedies available to it in connection with the Regulations and any other measures taken by the European Union and/or its Member States with respect to the Bank of Russia or its assets.
