MOSCOW, March 13 (Reuters) - Russian state-owned bank VTB filed a lawsuit against Euroclear Bank on March 12, court materials showed.
VTB was one of the first Russian banks to fall under Western sanctions against Russia for sending troops to Ukraine in early 2022, after which many of its foreign infrastructure assets were blocked.
"In order to protect its property interests VTB has filed a statement of claim with the Arbitration Court of St. Petersburg and Leningrad region to recover damages from Euroclear Bank SA/NV in connection with the blocking of the bank's own funds on the account of the financial organisation", VTB's press service told Reuters.
A Euroclear spokesperson declined to comment on the lawsuit.
A large proportion of Russian assets frozen in the West is held in Euroclear, the Belgium-based financial services company that specialises in settlement and custody of financial assets. (Reporting by Reuters. Editing by Jane Merriman)
