The head of Euroclear announced her readiness to challenge the confiscation of Russian assets in court.

Valerie Urbain, head of the Euroclear international depository in Belgium, expressed her willingness to seek non-compliance with the orders of the European Commission (EC) and the EU Council through the court if they decide to confiscate the frozen assets of the Russian Federation.

"There are laws. Depending on the legal framework, we will decide what we can and want to do," she said in an interview with Le Monde newspaper.

According to Urbain, it is possible to appeal to the courts if the European authorities want to force the depository to take such a step. She added that starting in 2022, the legal department has been increased from a dozen to 200 employees.

The news is being updated