None of the French assets of the Russian Central Bank is now frozen

None of the French assets of the Russian Central Bank is now frozen

06.05.2008, 19.28

MOSCOW, May 6 (Itar-Tass) -- None of the French assets of the Russian Central Bank is now frozen, a bank source told Prime Tass referring to the Tuesday decision of a French court concerning the Noga lawsuit.

French bailiffs ordered the freezing of assets of the Russian government, many Russian organizations and the Central Bank in early January by demand of the Noga Company. The assets were frozen in two banks. The assets in the first bank were unfrozen on March 7.

The bailiffs acted in compliance with the Stockholm Arbitration Court ruling of 1997, which concerned the aggregate sum of 49 million euros. Central Bank assets were frozen in 2000 by that ruling, but French courts unfroze them later on.

France adopted a monetary and financial code in 2005, which prohibited to freeze accounts of foreign central banks.

Noga lawyers said they would challenge the decision.