Russian central bank warns of legal action over EU plan on assets

The Bank of Russia said on Friday that it will take legal action in response to European Union (EU) plans to use its assets, warning that such measures violate international law and the principle of sovereign immunity.

The Russian central bank said in a statement that the mechanisms envisaged by regulations published by the European Commission, which allow for the direct or indirect use of its assets, are illegal. It added that any unauthorized use of its assets violates international law.

The statement said that the issuance and implementation of the EU regulations would lead the Bank of Russia to unconditionally challenge any actions involving the direct or indirect use of its assets without its consent.

According to the bank, such challenges would be pursued through all available competent authorities, including national courts, judicial bodies of foreign states, international organizations, arbitration tribunals, and other international judicial bodies.

It also said it would seek enforcement of relevant judicial decisions in the territories of United Nations member states.

In a separate statement released on the same day, the bank said it is filing a claim in the Moscow Arbitration Court against the Brussels-based securities depository Euroclear, where most of the frozen Russian assets are held.

"The actions of the Euroclear depository caused damage to the Bank of Russia due to the inability to manage cash and securities belonging to the Bank of Russia," it added.

The European Commission published a plan on Dec 3 to use frozen Russian assets to support Ukraine, reducing the funding amount from up to 186 billion U.S. dollars to around 105 billion dollars. Belgium rejected the EU plan, saying the proposal fails to address the financial and legal risks it faces.

Russian central bank warns of legal action over EU plan on assets

The total number of inter-regional passenger trips across China during the 40-day Spring Festival travel rush, also known as chunyun, reached a record of 9.41 billion, official data showed Saturday.

The figure marked a 4.3 percent increase over the same period in 2025, according to the Ministry of Transport.

Road traffic made up the lion's share of these trips. During the period, about 8.74 billion trips were made by road, increasing by 4.2 percent year on year.

Railway passenger volume reached 540 million, expanding 4.8 percent year on year, according to the ministry.

The country's civil aviation sector recorded 94.39 million passenger trips during the period, up 4.6 percent year on year, while waterway trips surged 15.3 percent from a year ago to 35.97 million.

During the period, China's transportation authorities rolled out various measures to alleviate traffic congestion and enhace the passenger experience.

Instead of simply adding extra trains, many railway stations used ticketing system, big data to dynamically allocate capacity for popular routes. Many railway stations and airports carefully calculated their passenger demands, and then deployed robots to help guide passengers. On expressways, AI-monitoring systems were used to help better manage traffic.

For the first time this year, many train stations rolled out a large luggage delivery service, which means after ordering online, passengers can have their luggages picked up at home and delivered to their departure station or even straight to their destination.

The travel rush, often described as the world's largest annual human migration, highlights China's massive mobility and vibrant economic activity. This year's Spring Festival travel rush started on Feb. 2 and ended on March 13.

China sees record-high inter-regional trips in Spring Festival travel rush