MOSCOW, December 19. /TASS/. The decision to use the frozen assets of the Bank of Russia would undermine the basic principles of functioning of the international financial system, the Central Bank’s Governor Elvira Nabiullina said.

"It's difficult for me to comment on which specific arguments prevailed. You've probably seen various arguments being actively discussed in the press. But above all, I think it's because this decision would undermine the fundamental basis for functioning of the international financial system. That's obvious," she told the press conference following the regulator’s board meeting on the key rate.

What will happen next, how the court decision will be executed will be determined after the court decision comes into legal force, Nabiullina added.

TASS reported earlier that on December 12, 2025, the Moscow Arbitration Court received a notice of claim from the Central Bank of the Russian Federation against Euroclear Bank S.A./N.V worth 18.2 trillion rubles ($228.4 bln). The amount of damages consists of the regulator's blocked funds, the value of the blocked securities, and lost profits. The regulator is also considering the possibility of protecting its interests in international courts and arbitration proceedings, with subsequent enforcement of such rulings in UN member states.

The EU and G7 countries have frozen approximately 300 bln euros in Russian assets. Some 185 bln euros is held in the Belgian depository Euroclear. The European Commission is seeking EU countries' consent to the use of Russian assets for Ukraine.