MOSCOW, Dec. 12 (Xinhua) -- The Bank of Russia said on Friday that it will take legal action in response to European Union (EU) plans involving the use of its assets, warning that such measures violate international law and the principle of sovereign immunity.
The Russian central bank said in a statement that the mechanisms envisaged by regulations published by the European Commission, which allow for the direct or indirect use of its assets, are illegal. It added that any unauthorized use of its assets runs counter to international law.
The statement said the issuance and implementation of the EU regulations would lead the Bank of Russia to unconditionally challenge any actions resulting in the direct or indirect use of its assets without consent.
According to the bank, such challenges would be pursued through all available competent authorities, including national courts, judicial bodies of foreign states and international organizations, arbitration tribunals and other international judicial bodies.
It also said it would seek enforcement of relevant judicial decisions in the territories of United Nations member states.
In a separate statement released on the same day, the bank said it is filing a claim in the Moscow Arbitration Court against the Brussels-based securities depository Euroclear, where most of the frozen Russian assets are held.
"The actions of the Euroclear depository caused damage to the Bank of Russia due to the inability to manage cash and securities belonging to the Bank of Russia," it added.
The European Commission published a plan on Dec. 3 to use frozen Russian assets to support Ukraine, reducing the funding amount from up to 186 billion U.S. dollars to around 105 billion dollars. Belgium rejected the EU plan, saying the proposal fails to address the financial and legal risks it faces. ■