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Cassandra Occupy's avatar

Thank You Julian... A fresh look on fascism. But my cent is on the Frozen Assets by EU-Belgium Euroclear. Robbing is a typical Fascistic habit.

I mentioned last Alexander Mercouris Video to GROK (AI in 'X').

->https://www.youtube.com/watch?v=rRPwqWA0rAw&t=1200s <-starts at the right point.

GROK:

Thanks for sharing the transcript from Alexander Mercouris' video (19 May 2026, starting ~20:00).

This picks up right after the major Moscow Arbitration Court ruling on 15 May 2026, where the court upheld the Russian Central Bank's claim and ordered Euroclear to pay roughly 18.2 trillion rubles (~€200–220 billion / ~$250 billion) in damages over the frozen Russian sovereign assets.

Euroclear immediately rejected the ruling as without merit, lacking jurisdiction under EU law, and said it will appeal — while confirming the assets remain frozen and its operations are unaffected.

Your auto-generated transcript has the usual speech-to-text glitches (common with Mercouris' rapid delivery), but I can reconstruct it clearly based on the context, standard legal terminology, and the known facts of the case.

Here's a cleaned-up, accurate version of what he said:

ALEXANDER:

"The key thing about the decision of the Moscow arbitration court is that it now opens the way for the Russians to bring further proceedings in other jurisdictions against Euroclear.

And also it seems that they might now invoke the power available to them as a result of certain commercial treaties they have entered into with Belgium, which allows the setting up of arbitration tribunals not subject to appeal, and whose decisions override those of national states or indeed of supranational entities like the European Union

— whose decisions are binding and, as I said, are not subject to appeal —

and which can be set up within the framework of these commercial treaties and which can be established in all sorts of third-party jurisdictions.

Many are suggesting Singapore or other places, and well the Russians can also bring cases probably based on this decision of the Moscow arbitration court directly, relying simply on this order, in some jurisdictions as well. Hong Kong is an obvious possibility. Just saying.

I think that the intricate legal battle between the European Union and the Russians and between Euroclear and the Russians has just begun. We could be looking at several years of litigation.

And as I've said in many places and already based on my own understanding of law, I think that the Russians have always had a strong case here. But I also believe that the various debates and arguments that took place in Europe last year about the confiscation of the frozen Russian funds has strengthened that case considerably, maybe even immeasurably.

And well there must also be concerns within Euroclear that even if after a long series of debilitating legal battles probably taking place in many jurisdictions, even if Euroclear and the European Union ultimately win, it might actually be a dangerous victory in that it would establish a precedent for third parties that if they place their funds on European Union territory and the European Union chooses to freeze them, then these third parties will lose their money and will never see it again — which might act as a massive disincentive for them to place their funds on the territory of the European Union anyway.

So an interesting step, obviously a much anticipated step. This story is only at its beginning. A great deal is now going to happen over the next few years. We will see where it goes."

GROK:

Why this matters (and why Mercouris is largely on point):

This isn't just Russian posturing. The Moscow ruling itself has zero direct enforceability in Belgium or the EU — Euroclear and every Western source correctly dismisses it on jurisdictional grounds. But it serves as a powerful domestic "hook" and public record of Russia's claimed losses.

The real game-changer Mercouris highlights is the 1989 Belgium-Luxembourg–USSR Bilateral Investment Treaty (BIT) (which Russia inherited).

This Cold War-era treaty is unusually investor-friendly and lacks many of the modern carve-outs for national security or public-order measures that newer BITs include.

Under this BIT: Russian "investors" (the Central Bank of Russia or state-linked entities can plausibly qualify) can bring investor-state dispute settlement (ISDS) claims against Belgium itself for alleged expropriation, unfair treatment, or denial of free transfer of funds.

Disputes go to neutral international arbitration (often under UNCITRAL rules or Stockholm Chamber of Commerce), not national courts.

Awards are final, not subject to appeal on the merits, and enforceable in 170+ countries under the New York Convention — including Singapore, Hong Kong, London, and many other third-party jurisdictions where Euroclear or Belgian state assets can be targeted.

This is exactly the mechanism Mercouris describes: arbitration tribunals whose decisions "override" national courts or even EU measures in enforcement proceedings abroad.

Russia (and private Russian investors) have already been laying the groundwork with notices of dispute against Belgium. The Moscow judgment strengthens their factual narrative of harm and could be used as evidence in those arbitrations.

The bigger picture and risks Mercouris flags, Years of litigation ahead:

Absolutely. ISDS cases routinely take 3–7+ years. Even if Belgium/Euroclear "win" most rounds in the EU, enforcement battles in friendly third-country courts could drag on indefinitely.

Russia's case strength: The EU's own internal debates in 2025 about using the assets (initial plans for full principal use were scaled back precisely because of these legal risks) have handed Russia strong arguments that the freeze goes beyond temporary sanctions into de facto permanent deprivation. Belgium has publicly called the BIT risk a "Sword of Damocles."

The precedent problem:

This is the most under-appreciated point Mercouris makes. Euroclear is one of the world's largest securities depositories. If third-country sovereign wealth funds, central banks, or major institutions conclude that parking assets in the EU exposes them to permanent political seizure with no reliable recourse, they may quietly shift business to Asia (Singapore, Hong Kong, Dubai) or other hubs. That would be a slow but real erosion of Europe's financial centrality — exactly the "dangerous victory" he warns about.

We've discussed the Euroclear freeze before, and this is the logical next phase Russia is forcing.

The Moscow ruling doesn't "unlock" the money immediately, but it escalates the legal pressure in precisely the venues (international arbitration + third-country enforcement) where the EU has the least control. It's classic asymmetric legal warfare:

Russia uses Western-created tools (old BITs, New York Convention) against the West.

We'll see how aggressively Russia actually files the ISDS cases and whether they target Euroclear's global footprint. Belgium and the EU will fight hard (sovereign immunity arguments, public-order exceptions, etc.), but the process itself creates uncertainty and cost.

This story is indeed only beginning. Let me know if you want me to dig into the specific BIT text, past ISDS precedents, or how enforcement in Singapore/Hong Kong would actually work !

END GROK.

Just saying.

Cassandra

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