Russia’s Central Bank has initiated legal proceedings against Euroclear, a Belgian financial entity based in Brussels, which is responsible for holding the majority of Moscow’s frozen assets within Europe, as announced by the bank on Friday.

The potential outcomes of this lawsuit remain uncertain, particularly since it has been filed in the jurisdiction of Moscow.

According to the European Commission, approximately 210 billion euros ($247 billion) in Russian assets are currently immobilized across Europe. By the close of September, Euroclear was reported to be holding about 193 billion euros ($225 billion) of these funds.

The Central Bank of Russia stated that the lawsuit, lodged with Moscow’s Arbitration Court, aims to seek compensation for losses experienced due to restrictions on managing and using its funds and securities held by Euroclear.

Euroclear has refrained from offering any comments regarding the ongoing legal case.

In a separate statement, Russia’s Central Bank also condemned wider EU plans to use Russian assets to aid Ukraine as “illegal, contrary to international law,” arguing that they violated “the principles of sovereign immunity of assets.” It’s the first time that the bank has publicly commented on the plans.

The EU froze Russia’s assets based in the 27-nation bloc shortly after the start of Russia’s full-scale war in Ukraine on Feb. 24, 2022. These sanctions must be renewed every six months, and all EU members must approve them for that to happen.

At a summit next week, EU leaders will decide whether to use tens of billions from these assets to fund Ukraine’s military and economic needs by using them as collateral for a huge loan for Kyiv.

Ukraine needs funding to aid its war effort. But such a move has never been done before, and it comes with risks.

The European Central Bank has warned that if Europeans appear willing to grab other countries’ money, it could undermine confidence in the euro currency.

Some member nations are also concerned about inviting retaliation from Russia. Belgian Prime Minister Bart De Wever has refused to approve the plan, citing fears that Russia will move against against Belgium’s interests.