World
EU dismisses Russia’s lawsuit against Euroclear as ‘speculative’
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The European Commission has dismissed as “speculative” and groundless a lawsuit launched by the Russian Central Bank against Euroclear, the Brussels-based central securities depository that holds €185 billion in immobilised assets.
In a short statement published on Friday morning, the Russian Central Bank announced the start of legal proceedings for the “recovery of damages” and blamed Euroclear for preventing the release of the assets, which are subject to EU law.
The lawsuit was submitted to the Arbitration Court in Moscow.
The development comes with the EU still hammering out a plan to channel Russia’s sovereign assets into a zero-interest reparations loan to Ukraine, a process with Euroclear at its centre. EU leaders are meant to make a final decision when they meet on 18 December.
“Our proposal is legally robust and fully in line with EU and international law. The assets are not seized, and the principle of sovereign immunity is respected,” Valdis Dombrovskis, the European Commissioner for the Economy, said on Friday afternoon.
“We kind of expect that Russia will continue to launch speculative legal proceedings to prevent the EU from upholding international law and to pursue the legal obligation for Russia to compensate Ukraine for the damages it has caused.”
According to Dombrovskis, all European institutions that have Russian assets, from Euroclear to private banks, will be “fully protected” against Moscow’s retaliation. The EU has controlled €210 billion in assets of the Russian Central Bank since February 2022.
The sanctions regime already allows Euroclear to “offset” any potential loss, he added.
For example, if a Russian court orders the seizure of the €17 billion that Euroclear has on Russian soil, Euroclear will be allowed offset the loss by tapping into the €30 billion that its Russian counterpart, the National Settlement Depository, has stored within the EU.
Additionally, the reparations loan, if approved, will introduce a new mechanism to deal with state-to-state disputes. If Russia seizes the sovereign assets of Belgium in retaliation, Belgium will be allowed to “offset” the lossagainst the €210 billion, while Russia will not recover the amount it has seized when the assets are freed.
The Belgian factor
The legal safeguards are meant to allay the concerns of Belgium, which remains the chief opponent of the reparations loan. Belgian Prime Minister Bart De Wever has repeatedly warned of the risk a successful legal challenge could pose.
“We put forward a proposal. We are confident in its legality and its court-proof character,” a Commission spokesperson said.
Euroclear, which declined to comment, has previously criticised the reparations loan as “very fragile”, legally risky and overtly experimental.
The lawsuit comes a day after EU countries agreed to trigger an emergency clause to immobilise the Russian Central Bank assets for the foreseeable future.
Under the new law, the €210 billion will be released only when Russia’s actions “have objectively ceased to pose substantial risks” for the European economy and Moscow has paid reparations to Kyiv “without economic and financial consequences” for the bloc – a high bar that is unlikely to be cleared any time soon, if ever.
The indefinite immobilisation is meant to further placate Belgium and Euroclear in order to facilitate the approval of the reparations loan next week.
In a separate statement, the Russian Central Bank said it “reserves the right, without further notice, to apply all available remedies and protections if the proposed initiatives of the European Union are upheld or implemented”.
World
Top US Catholic cardinals question morality of American foreign policy
Jan 19 (Reuters) – Three U.S. Catholic archbishops on Monday decried the direction of American foreign policy, saying the country’s “moral role in confronting evil around the world” was in question and that military action must only be used as an extreme last resort.
“In 2026, the United States has entered into the most profound and searing debate about the moral foundation for America’s actions in the world since the end of the Cold War,” the three highest-ranking U.S. Catholic archbishops said in a rare joint statement.
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“The events in Venezuela, Ukraine and Greenland have raised basic questions about the use of military force and the meaning of peace,” the clerics said.
The joint statement did not directly name Trump. The White House did not immediately respond to a request for comment.
Saying that the U.S. needs a “genuinely moral foreign policy,” the archbishops renounced “war as an instrument for narrow national interests” and said that “military action must be seen only as a last resort in extreme situations, not a normal instrument of national policy.”
Reporting by Bhargav Acharya in Toronto; Editing by Caitlin Webber and Bill Berkrot
Our Standards: The Thomson Reuters Trust Principles.
World
Iranian soldier sentenced to death for refusing to fire on protesters during nationwide unrest
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A young soldier who refused to obey orders to shoot protesters during one of Iran’s most intense waves of nationwide unrest has been sentenced to death, a human rights group reported Tuesday.
The Iran Human Rights Society (IHRS) identified the soldier as Javid Khales, who was arrested during the nationwide protests of 1404, a major wave of anti-regime demonstrations from late 2025 to early 2026 calling for an end to the country’s current dictatorship.
“According to informed sources, when faced with the command to shoot at protesting people, he refused to execute the order, leading to his immediate arrest and the opening of a case against him,” IHRS said.
Witnesses claimed Khales, now in Isfahan prison, did not commit a crime but refused to shoot in an act of humanity, the group said.
LINDSEY GRAHAM SPEAKS AGAINST PENDING EXECUTION OF 26-YEAR-OLD IRANIAN PROTESTER: ‘THIS REGIME MUST FALL’
Iranian security forces escalated from pellet guns to live ammunition during protests. (Getty)
While the unrest has already led to thousands of arrests and deaths among protesters, Khales’ planned execution further raises concerns over unfair, state-sanctioned killings and rushed trials that deny defendants proper legal protections.
“Amid the continuation of protests and the intensification of deadly repression against the people, the news of Javid Khales — a young soldier who refused to shoot at protesters — being sentenced to death has heightened concerns about a new wave of judicial massacre,” the human rights group said.
“This sentence comes at a time when judiciary officials have openly spoken of summary trials and the swift execution of death sentences against those arrested in the protests.”
IRAN ACCUSED OF KILLING 16,500 IN SWEEPING ‘GENOCIDE’ CRACKDOWN: REPORT
The death toll from Iranian protests rises as hundreds are allegedly killed by government forces. (MAHSA/Middle East Images/AFP via Getty Images)
A judiciary spokesperson and the Tehran prosecutor, in separate statements, emphasized that cases involving dissidents must be resolved as quickly as possible, IHRS reported, raising concerns that executions could take place outside proper legal procedures. Human rights sources say many detainees have remained in custody without access to a lawyer or a fair trial.
The organization added that Khales’ death sentence is seen as part of a broader effort to instill fear, “enforce absolute obedience and intensify protest repression.”
In this frame grab from video obtained by the AP outside Iran, a masked demonstrator holds a picture of Iran’s Crown Prince Reza Pahlavi during a protest in Tehran, Iran, Jan. 9, 2026. (UGC via AP)
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Over the past several days, the government shut down and restricted the internet nationwide to prevent protesters from organizing. Human rights activists say the blackout was also a strategic move to conceal the realities on the ground and suppress public reaction.
Precise details were unavailable regarding Khales’ case, his current status or the judicial process.
World
Israel’s Netanyahu to join ‘board of peace’
DEVELOPING STORYDEVELOPING STORY,
Published On 21 Jan 2026
Israel’s Prime Minister Benjamin Netanyahu has accepted an invitation from United States President Donald Trump to join the “board of peace”.
The Israeli leader’s office announced on social media on Wednesday that Netanyahu is to join the initiative, despite the fact that it was unveiled as part of phase two of the ceasefire agreement with Hamas to end Israel’s genocidal war on Gaza.
Numerous world leaders have been invited to join the body, which Trump envisages would oversee “governance capacity-building, regional relations, reconstruction, investment attraction, large-scale funding, and capital mobilisation” in the enclave.
However, Netanyahu’s participation will add to concerns over the objectivity of the board, which will be led by, and its lineup controlled by, Trump.
More to come …
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