Moscow appeals court upholds 18.17-trillion-ruble order against Euroclear, the Belgian depository holding €190 billion of Russia’s frozen funds

A Moscow appeals court has rejected a petition from Euroclear, the Belgian securities depository, the Russian state news agency TASS reported. A spokesman for Euroclear said a ruling ordering the firm to pay 18.17 trillion rubles in a case brought by Russia’s central bank remained in force.