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EU dismisses Russia’s lawsuit against Euroclear as ‘speculative’

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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.

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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.

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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.

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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”.

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‘Killing off the country’: Iran executes dozens, arrests 4,000+ in war crackdown

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‘Killing off the country’: Iran executes dozens, arrests 4,000+ in war crackdown

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U.N. High Commissioner for Human Rights Volker Türk on Tuesday accused Iran’s regime of dramatically intensifying its crackdown on dissent in the wake of the February conflict, warning that Tehran has carried out executions, mass arrests, torture and one of the world’s longest internet shutdowns while invoking national security.

In a sharply worded statement from Geneva, Türk said at least 21 people have been executed and more than 4,000 arrested on national security-related charges since Feb. 28, as the regime faces mounting scrutiny over what he described as a sweeping assault on fundamental rights. 

“I am appalled that, on top of the already severe impacts of the conflict, the rights of the Iranian people continue to be stripped from them by the authorities, in harsh and brutal ways,” Türk said.

COULD NARGES MOHAMMADI UNITE IRAN’S OPPOSITION? HUSBAND SAYS IMPRISONED NOBEL LAUREATE STILL FIGHTING

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A protester holds ‘Stop executions in Iran’ and ‘Free Iran’ placards during the demonstration. Demonstrators gathered outside Downing Street in protest against executions in Iran and in support of freedom for Iran.  (Vuk Valcic/SOPA Images/LightRocket via Getty Images)

Since the start of the conflict two months ago, the U.N. said nine people have been executed in connection with the January 2026 protests, 10 for alleged membership in opposition groups, and two on espionage charges. It’s estimated that some 40,000 people were killed by regime forces during January’s uprising.

Türk warned that Iran’s broad use of vaguely defined national security laws has enabled authorities to fast-track prosecutions, deny legal counsel, and rely on coerced confessions.

“Even where national security is invoked, human rights can only be limited where strictly necessary and proportionate,” he said, calling on Tehran to halt executions, impose a moratorium on capital punishment, and immediately release those arbitrarily detained.

For many Iranian dissidents, the findings reflect an already dire reality.

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A billboard depicting Iran’s supreme leaders since 1979: (L to R) Ayatollahs Ruhollah Khomeini (until 1989), Ali Khamenei (until 2026), and Mojtaba Khamenei (incumbent) is displayed above a highway in Tehran on March 10, 2026. Iran marked the appointment of Ayatollah Mojtaba Khamenei to replace his father as its supreme leader on March 9, 2026.  (AFP/Via Getty Images)

“It is bad,” Banafsheh Zand, an Iranian-American journalist and editor of the Iran So Far Away Substack, told Fox News Digital. “They’re completely killing off the country.”

On Saturday, it was reported that Iran had executed another athlete, a 21-year-old karate champion. Sassan Azadvar Joonqani was detained in January during the anti-regime protests and was executed by the regime on Thursday, according to a report in Euronews.

Wrestling champion Saleh Mohammadi was executed by the regime in March for alleged illegal actions in January’s protests against the authorities.  (The Foreign Desk)

In March, Iran executed another athlete, 19-year-old wrestling champion Saleh Mohammadi, for protesting against the regime, Fox News Digital reported. 

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Türk’s office said detainees have reportedly faced enforced disappearances, torture, mock executions, and televised confessions, with ethnic and religious minorities including Bahá’ís, Zoroastrians, Kurds and Baluch Iranians facing particular risk.

RUBIO REVOKES IRANIAN OFFICIALS’ US TRAVEL PRIVILEGES OVER DEADLY PROTEST CRACKDOWN KILLING THOUSANDS

Ali and Kiana Rahmani accept the Nobel Peace Prize 2023 on behalf of their mother, imprisoned Iranian human rights activist Narges Mohammadi, at Oslo City Hall in Norway on Dec. 10, 2023. (Javad Parsa/NTB/Reuters)

Among those cited by the U.N. was imprisoned Nobel Peace Prize laureate Narges Mohammadi, whose condition sharply worsened Friday after what her family described as a catastrophic health crisis following months of being denied specialized care.

According to a statement from the Narges Foundation that was published Friday, Mohammadi was urgently transferred by ambulance from Zanjan Prison to a hospital after suffering two episodes of complete loss of consciousness in a single day, accompanied by severe cardiac distress. The foundation said prison doctors determined her condition could no longer be managed on-site after what her family called a “last-minute” transfer that may have come dangerously late.

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Her husband, Taghi Rahmani, told Fox News Digital earlier this week that her physical condition had already become increasingly dire after what he described as a violent arrest and deteriorating prison treatment. “She has sustained severe trauma and urgently requires medical attention.”

Rahmani previously said Mohammadi’s medical team and outside specialists had pushed for treatment in Tehran due to her history of multiple heart procedures, while authorities allegedly blocked those recommendations until her condition became life-threatening. Despite her physical decline, Rahmani said, “Spiritually and mentally, Narges remains steadfast.”

IRAN’S KHAMENEI LASHES OUT AT PROTESTERS AS NATIONWIDE ANTI-REGIME UNREST GROWS

In this photo obtained by The Associated Press, tear gas is fired during an anti-government protest in Tehran, Iran, Thursday, Jan. 8, 2026. (UGC via AP) (UGC via AP)

The U.N. statement, combined with Mohammadi’s emergency hospitalization, has intensified scrutiny of Iran’s prison conditions, which Türk described as marked by overcrowding, medical neglect, and severe human rights abuses.

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Türk also cited dire prison conditions, including overcrowding, shortages of food, water and medicine, and denial of medical care.

The U.N. further highlighted reports of lethal violence in detention facilities, including claims that security forces killed at least five detainees in Chabahar Prison after protests over suspended food distribution.

But while dissidents welcomed the U.N.’s unusually forceful language, some also questioned whether condemnation without action can meaningfully alter conditions, especially as Iran this week was elevated to a vice-chair role on a U.N. nuclear nonproliferation committee.

“The reason why Iranians just don’t trust, don’t like and don’t want to know from the U.N.,” Zand said, is what she described as its repeated failure “to rise to the occasion of responding to the regime and holding their feet to the fire at the right time… with the right amount of pressure.”

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Iranian diaspora activists gathered in front of the German Federal Foreign Office in Berlin on Jan. 27, 2024, to protest the increase in death sentences by Iran’s Islamic Republic rulers. The demonstration was organized by the Echo Iran group. (Echo Iran/Middle East Images/AFP)

While she said the latest statement itself was important, Zand argued many view such condemnations as hollow when paired with what they see as institutional legitimacy granted to Tehran.

“They’re making a statement… fine,” she said. “But what are they gonna do about it?”

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Torture claims and a ship that leaves flotilla detainees in Israel

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Torture claims and a ship that leaves flotilla detainees in Israel

The Israeli government has announced that Abu Keshek and Brazilian activist Thiago Ávila are already in the country, where they will be interrogated imminently. Israel’s foreign ministry made the announcement on social media, without specifying either their point of arrival or the location of the questioning.

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Israel accuses both men of maintaining ties with Hamas through the Popular Conference for Palestinians Abroad, an organisation the United States has designated as a front for the Palestinian Islamist movement. It specifically names Abu Keshek as one of the “leaders” of that structure, while describing Ávila as working for the group in activities it considers illegal.

Both will receive consular visits from their respective countries. In the case of the Spaniard, it will be the Spanish consul in Tel Aviv. Meanwhile, Brazilian activist Ávila will be assisted by diplomats from his own country.

Albares: (Keshek) should be in Crete with the others

The Spanish foreign minister, José Manuel Albares, was unequivocal in an interview with ‘Catalunya Ràdio’: it was, he said, “an illegal detention carried out in international waters, outside any jurisdiction of the Israeli authorities.”

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For Spain’s top diplomat, Abu Keshek should never have set foot on Israeli soil; he should have been put ashore on the Greek island of Crete together with the rest of the activists.

On Thursday, the foreign ministry urgently summoned the head of the Israeli embassy in Madrid to convey the government’s condemnation.

Spain has also signed up to a joint declaration with ten other countries, including Turkey, Brazil, Colombia and South Africa, stating that the Israeli attacks on the ships and the detention of the activists constitute “flagrant violations of international law.”

Asked whether Abu Keshek may have been tortured, Albares acknowledged that he could not confirm it because there has not yet been direct contact with him. What he did confirm is that several activists needed medical attention in Crete and that the Spanish consul dispatched there had to accompany them.

The flotilla alleges systematic torture

The Global Sumud Flotilla goes further in its accusations.

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In a statement released in the early hours of Saturday, the organisation claims that both Abu Keshek and Ávila were tortured by the Israeli army after being separated from the other 174 activists who were also taken to the Israeli naval vessel Nahshon.

“Eyewitnesses have testified to the screams of Abu Keshek echoing throughout the ship as he was systematically tortured after being separated from the others,” the statement says.

The organisation describes what happened as a “serious escalation” and an “additional war crime”. As many as 35 activists, according to the organisers, had to receive medical treatment as a result of the violence during the Israeli operation.

Family left in the dark and afraid

Sally Issa, the activist’s wife told channel TVE that they had been without information for hours. “We have been given no information about the transfer,” she said. “Israel cannot seize people in international waters. It is an illegal act, and we call on the Spanish government to do everything it can to secure his release.”

What worries her most, she said, is her husband’s physical condition. “We have testimony from activists who were there who said that there has been systematic violence against Saif, and we are gravely concerned for his health,” she explained, adding that beyond lawyers, his family also needs guarantees of medical care.

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The rest of the flotilla’s activists, apart from Abu Keshek and Ávila, disembarked in Crete on Friday, where some were treated in medical centres, and the rest began to be repatriated to their respective countries.

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Plane circles Fenway Park for an hour towing banner imploring Red Sox ownership to sell the team

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Plane circles Fenway Park for an hour towing banner imploring Red Sox ownership to sell the team

BOSTON (AP) — A small plane towing a banner imploring Red Sox ownership to sell the team flew over Fenway Park on Friday while Boston and the Houston Astros took batting practice.

The plane towed a banner with big red letters reading: “FIRE CRAIG! SELL THE TEAM!”

The banner was aimed at Craig Breslow, Boston’s chief baseball officer, and Red Sox principal owner John Henry.

Boston enters Friday game against the Astros in last place in the AL East, with a 12-19 record.

Breslow fired manager Alex Cora on April 25 after a 17-1 road victory over the Baltimore Orioles.

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The small plane circled the ballpark for over an hour. Fans outside the park were seen looking up and trying to read the banner.

With the Red Sox off to such a poor start this season, chants of “Sell the team!” have been heard at Fenway. Last week, those chants grew louder after the Red Sox were swept at home by their longtime rivals, the New York Yankees.

The 50-year-old Cora was the manager of Boston’s last World Series team in 2018, which won a club-record 108 regular-season games. And, Cora was a member of the team’s 2007 World Series-winning club. Cora was 620-541 as Red Sox manager, and the first manager to be fired this season.

Henry also owns the Liverpool soccer team. Last week, fans protested against rising ticket prices.

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AP MLB: https://apnews.com/hub/mlb

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AP MLB: https://apnews.com/hub/mlb

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