The Russian National Settlement Depository has lost its case to lift European Union sanctions imposed due to its role in financing the war. As a result, €70 billion may now be used to support Ukraine, according to Bloomberg. The depository was sanctioned by the EU in 2022 when the bloc said that, as the primary custodian of Russian securities, the organization enabled the Russian government to mobilize resources to support military operations. The NSD “failed to demonstrate” that the EU “erred in finding that that undertaking was a systemically important financial institution which played an e…