Russia's central bank is demanding $230 billion (18 trillion roubles) from Euroclear. This comes as the EU considers using €210 billion in Russian frozen assets to lend to Ukraine. Most of these funds, €185 billion, are held at Euroclear in Brussels. The EU wants to help Ukraine fight and keep its economy stable using these assets. Russia calls this theft and threatens to seize European investors’ holdings in Russia. Kirill Dmitriev, head of Russia’s sovereign wealth fund, said on X, "Russia will win in court" and "get [the assets] back," adding that the EU, the euro, and Euroclear "will suffer" from the plan. Euroclear did not comment. Russia has over 100 lawsuits against Euroclear. Analysts say Russia might try to enforce court rulings in friendly countries like China, UAE, or Kazakhstan. The EU is working to block such moves and protect assets of member states in Russia. The EU’s plan includes a €90 billion loan to Ukraine from the frozen funds. Ukraine pays back only if Russia agrees to reparations for war damage. Some EU members propose borrowing within the EU budget instead, but this needs all 27 countries to agree. Hungary has opposed this. EU foreign policy chief Kaja Kallas called the reparations loan "the most credible option" and said it doesn’t use taxpayers’ money. She said, "If you do all this damage to another country, you have to pay for the reparations."