EU Court Upholds Sanctions Against Russian Oligarchs.

The European Union court dismissed the collective lawsuit of Russian oligarchs Mikhail Fridman, Petr Aven, and German Khan, who demanded the lifting of EU sanctions.

"The names of Yelena Timchenko, Gennady Timchenko, Mikhail Fridman, Petr Aven, and German Khan were included in the lists of persons, organizations, and institutions subject to restrictive measures adopted by the Council of the European Union in connection with Russian aggression against Ukraine," the decision stated.

It was noted that the court dismissed the lawsuits demanding the lifting of sanctions in full.

It should be recalled that Fridman and Aven are the founders and shareholders of the Russian "Alfa-Bank." After the start of the large-scale war in Ukraine, they left Russia but fell under the sanctions of the EU and the United Kingdom. In August 2023, they were also added to the U.S. sanctions list.

The court has frozen the assets of three Russian oligarchs Mikhail Fridman, Petr Aven, and Andrey Kosogov in Ukraine. The value of the frozen corporate rights exceeds 17 billion UAH.

On April 10, the European Union court decided to lift the sanctions on Aven and Fridman, as the court concluded that none of the reasons contained in the initial legal act were properly substantiated.

Source: Espresso