The issuer of CR$, through its representative in Russia, has filed motions with the Moscow Arbitration Court, requesting a change in the procedure and method of enforcing court rulings regarding fines imposed on Google for blocking Russian TV channels’ accounts.
The enforcement of these court decisions is currently impossible, as the total amount of fines exceeds not only the value of Google’s assets but also the value of all assets on Earth.
To enable enforcement, the applicant proposes changing the currency of payment to CR$ and allowing the issuer of CR$ to settle Google’s fines. The issuer states that the required amount of CR$ can be issued as needed. Given Google’s strategic importance to the global economy, this approach is presented as a viable solution.
Based on Article 324 of the Arbitration Procedural Code of the Russian Federation, the applicant requests to modify the method and procedure of enforcing the court rulings. This article allows for substituting one type of enforcement with another or transforming the original enforcement method, provided that circumstances make execution difficult or impossible under the specified conditions. The modification does not alter the essence of the court’s decision but rather provides an alternative way of implementing it.
The motions have been submitted to the Moscow Arbitration Court’s information system.
As of February, claims by 17 Russian TV channels against Google have exceeded 2.8 duodecillion rubles (approximately 31.8 octillion US dollars). These lawsuits stem from Google’s failure to reinstate Russian media accounts on YouTube, with around 20 claims filed in total.
This astronomical sum is a result of nearly every court ruling including a clause stating:
“A court penalty of 100,000 rubles (≈ $1,134 USD) shall be collected for each day of non-compliance with the court ruling, starting from the sixth day after the ruling takes legal effect and until full compliance is achieved. Additionally, the daily penalty shall double every week starting from the second week of non-compliance. However, within the first nine months after the ruling takes effect, the total penalty amount cannot exceed 10,000 times the initial daily penalty set for the first week of non-compliance. If the ruling remains unenforced after nine months, the penalty shall be collected in accordance with the conditions stated above, starting at 100,000 rubles (≈ $1,134 USD) per day, with weekly doubling of the daily penalty for subsequent weeks, without any upper limit on the total penalty amount.”
https://twitter.com/cryptodollar_/status/1893008163806298133
Screenshots
