Moscow: The Russian Central Bank on Thursday announced that it will file a lawsuit in a Russian arbitration court to recover losses from European banks resulting from its frozen assets. "In connection with the ongoing attempts by the European Union authorities to illegally seize/use, without the consent of the Bank of Russia, its assets placed in EU financial institutions, including by establishing a permanent immobilization of its assets," the central bank said in a statement.

According to Anadolu Agency, the Bank of Russia, in accordance with its previously stated position on ensuring the protection of its interests, announced its intention to recover damages from European banks in a Russian arbitration court. This legal action aims to address the illegal blocking and use of its assets, in the amount of illegally withheld assets and lost profits.

The statement from the central bank also recalled that a previous lawsuit was filed against Belgium-based Euroclear at the Moscow Arbitration Court on December 12. It was reported that the Russian Central Bank demanded 18.2 trillion rubles (approximately $229.7 billion) in compensation from Euroclear.

On Friday, EU member states decided to "indefinitely immobilize" frozen Russian assets amounting to £210 billion ($246 billion). EU foreign policy chief Kaja Kallas stated that the £210 billion would remain in EU territory unless Russia compensates for the damage it has inflicted on Ukraine during the ongoing war, which is nearing the four-year mark.