Russian billionaire Roman Abramovich has lost a lawsuit before an EU court in Brussels in which he tried to overturn financial sanctions imposed on him by the European Union.
After President Vladimir Putin ordered Russian troops to invade Ukraine in February 2022, the EU issued punitive measures against Russian officials and businessmen with ties to the Kremlin, such as Abramovich. Hundreds of billions of euros in Russian bank assets in the EU were frozen.
The court called the sanctions justified because of Abramovich’s role in the Russian steel company Evraz. Steel is an important source of income for the Russian government, which keeps its war machine running.
The judge also rejected a claim for damages.
Abramovich, who also has Israeli citizenship and is the former owner of Premier League club Chelsea, became one of the world’s most powerful businessmen after the collapse of the Soviet Union in 1991. His personal wealth is estimated at $9.2 billion.
Peter van Ammelrooy
Shortly before the Russian invasion, Oligarch Abramovich secured his art collection through a minimal transfer to his ex. As a result, the paintings are now outside the scope of EU sanctions, writes reporter Michael Persson.
2023-12-20 15:56:15
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