VTB presented two claims against its British subsidiary for 22 million euros and for 52.6 euros, they refer to a structure under external management, Interfax reports.

VTB filed claims against its British subsidiary for 74 million euros

As an interim measure, the bank managed to seize securities of Russian companies from the portfolio of VTB Capital Plc. Funds were also seized in Russian bank accounts.

The case materials indicate that VTB filed a lawsuit against VTB Capital Plc with the Arbitration Court of St. Petersburg and the Leningrad Region. In addition to the statement of claim, the plaintiff filed a request for provisional measures. These include the seizure of securities belonging to VTB Capital Plc, which are stored in securities accounts, type “C” securities accounts and other accounts opened at the NDR and other depositories.

The securities that VTB asked to seize include OFZ, as well as small blocks of bonds and shares of some Russian public companies. Among them are Sberbank, Ozon, Yandex, Russian Railways, Gazprom, Tatneft, Rusal, Lukoil, Rosneft and others.

VTB also asked the court to prohibit NDR and other depositories from making entries in accounts opened at VTB Capital Plc.

VTB’s second lawsuit concerns the recovery of a debt of 5.3 billion rubles from VTB Capital Plc. The plaintiff requests the seizure of securities, money and other assets of the company that are located in correspondent accounts, securities accounts and type “C” securities accounts. VTB insists on prohibiting the transfer of these assets to anyone other than VTB itself.

The court decided to grant all requests for provisional measures. Preliminary hearings in both cases are scheduled for April 4, 2024.

Earlier, the head of the Russian Ministry of Finance, Anton Siluanov, in response to the European Union’s intention to send blocked Russian assets to help Ukraine, said that the Russian Federation would take mirror measures. In particular, he recalled that in Russia “there are also quite a few assets that are frozen here and they are also in the accounts of the so-called” C “accounts.”


Natalia Gormaleva

Source: RB

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