A Moscow court kicked off proceedings this week on a high-stakes case brought by Russia's central bank against Euroclear, the Belgium-headquartered settlement operator holding a massive chunk of frozen Russian assets under EU sanctions. The lawsuit marks an escalating confrontation over access to these trapped funds. For crypto and DeFi enthusiasts tracking geopolitical risks, this case highlights how traditional financial infrastructure can become a flashpoint—raising questions about asset custody, settlement mechanisms, and the broader implications when major clearing houses get caught between conflicting regulatory demands.