12th July, 2023
Russian billionaire Roman Abramovich will appeal European Union sanctions placed on him following the Ukraine war.
A source confirmed on Wednesday, alleging that the limitations were imposed only because he is a well-known Russian.
Abramovich is one of the most powerful businessmen who amassed enormous fortunes following the dissolution of the Soviet Union in 1991. According to Forbes, his net worth is $9.2 billion.
Following President Vladimir Putin’s February 24 decision to send tens of thousands of troops into Ukraine, the EU imposed sanctions on Russian authorities and a slew of Russian businessmen, blocking hundreds of billions of euros in Russian assets.
The EU designated Abramovich, now 56, as a “oligarch with close ties to Vladimir Putin,” having “privileged access” to the Kremlin leader, contacts that the EU claimed allowed him to maintain his assets.
Abramovich filed an appeal to the EU fines on May 25, 2022, and the General Court of the Court of Justice of the European Union will hear the case on Thursday.
His attorneys will claim that the EU restrictions are unjustified and were imposed solely because he is a well-known Russian businessman, according to the source.
“He was not sanctioned because of evidence relating to the criteria: he was sanctioned simply because politically, the most famous Russian businessman had to be even if this is a manifest error,” the source said.
Reuters