Preliminary hearing of Russian central bank's lawsuit against Euroclear scheduled for Jan 16

A preliminary hearing of the Russian central bank's lawsuit against the Belgium-based Euroclear is scheduled for January 16 next year as Russia moves to seek damages from European banks for illegally freezing and using its assets.

In a statement released by its press service on Thursday, the Bank of Russia said it will claim damages from European banks in a Russian arbitration court for the illegal blocking and use of its assets.

On Monday, the bank filed a lawsuit against Euroclear, which holds a large amount of frozen Russian assets, seeking over 18 trillion rubles (about 230 billion U.S. dollars) in damages.

The Russian Foreign Ministry said that any disposal of Russian sovereign assets without the consent of the Russian Federation—whether through indefinite freezing, confiscation, or attempts to disguise the de facto confiscation as some form of so-called "compensation loan"—is absolutely illegal and is a serious violation of international law.

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.

Preliminary hearing of Russian central bank's lawsuit against Euroclear scheduled for Jan 16

Preliminary hearing of Russian central bank's lawsuit against Euroclear scheduled for Jan 16

China has issued a trial guideline on the ethics review and service of artificial intelligence (AI) technology, the Ministry of Industry and Information Technology said on Friday.

The guideline, jointly issued by 10 government departments, including the ministry, calls for efforts to support technological innovation in AI ethics review and to strengthen the use of technical measures to prevent AI-related ethical risks.

The guideline clarifies that the review should focus on human well-being, fairness and justice, and controllability and trustworthiness.

It also details issues that should be addressed in the review, such as the selection criteria for training data, the rationality of the algorithm, model and system design, and measures to prevent bias, discrimination and algorithmic exploitation.

The guideline also calls for promoting the orderly open-sourcing of high-quality datasets for AI ethics review, strengthening the development of general risk management, assessment and auditing tools, and exploring risk assessment based on application scenarios.

It also encourages the promotion of AI products and services that comply with scientific and technological ethics, and the protection of intellectual property rights in AI ethics review technologies.

China issues guideline for AI ethics governance