Europe

20 Russian billionaires challenge EU sanctions in court – Bloomberg

At least 20 Russian billionaires have launched legal objections to European Union sanctions imposed after Moscow invaded Ukraine, Bloomberg. report Wednesday.

More than 1,000 Russians, including President Vladimir Putin, are on the EU sanctions list and have been hit by travel bans and asset freezes.

Former Chelsea football club owner Roman Abramovich, businessman Andrei Melnicenko, banker Mikhail Fridman, and petrochemical tycoon Dmitry Konov are among the oligarchs authorized to file complaints in EU courts. It is a department.

“The majority of cases will have very limited chances of success,” Irish lawyer Carsten Zatschler told Bloomberg.

“There are so many political decisions involved in the underlying decisions.”

Bloomberg reports that Russian business leaders are facing a narrow period of just over two months to prepare an appeal in the EU.

“Many law firms have avoided any proceedings related to Russia since the invasion,” Zatchler said, making it difficult to find a legal representative.

The EU can also “redesignate” an individual by submitting a new argument for inclusion in the sanctions list, even if it is unlikely that a favorable decision will be made.

For many, the case of former Ukrainian President Viktor Yanukovych shows the difficulty of escaping EU sanctions, Bloomberg reported.

The exiled pro-Russian leader has won almost every challenge to EU sanctions since being first targeted by the block in 2014, but again in a cat and mouse game that includes nine separate complaints. It was specified.

Bloomberg reported that the EU court had rarely suspended sanctions and allowed the subject individuals to file proceedings for damages several years later.

https://www.themoscowtimes.com/2022/06/09/20-russian-billionaires-challenge-eu-sanctions-in-court-bloomberg-a77946 20 Russian billionaires challenge EU sanctions in court – Bloomberg

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