Russian billionaire Mikhail Fridman and his business partner Petr Aven on Wednesday won a rare victory against European Union (EU) sanctions over Moscow's war against Ukraine, but remain under punitive measures.
The Court of Justice of the European Union (ECJ), the bloc's top court, overturned sanctions imposed on the pair between 2022 and 2023, saying the bloc had not provided sufficient evidence that the men supported the Kremlin's actions or policies against Ukraine. .
“The General Court considers that none of the reasons set out in the initial acts are sufficiently substantiated and that the inclusion of Mr. Aven and Mr. Fridman on the lists in question was therefore not justified,” said the Luxembourg-based court in an announcement.
The decision causes embarrassment – but not immediate change – for the bloc, which has imposed sanctions on more than 1,700 individuals and entities considered directly involved, benefited or otherwise complicit when Russia invaded Ukraine in 2022.
A court spokesman said the sanctions that were successfully appealed had now expired. He said the two men currently remain under EU sanctions because punitive measures against them were extended, both in March 2023 and again last month, in what are formally separate decisions.
The pair appealed the 2023 extension. The court spokesperson said the cases were in the early stages and would take months to consider.
Friedman “satisfied” with decision
Fridman and Aven are the main shareholders of the Alfa Group conglomerate, which includes Russia's largest private bank, Alfa Bank, and its largest food retailer, X5 Retail Group.
The billionaire told media outlet RBC that he and Aven were “pleased” with Wednesday’s court ruling.
Kremlin spokesman Dmitry Peskov said Russia believes such sanctions are illegal and destructive, but that businesspeople have the opportunity to challenge them.
EU sanctions against individuals and entities include travel bans and asset freezes. The bloc also imposed financial, energy and defense trade restrictions on Russia, as well as supporting Kiev in its fight against Moscow.
While most of the EU's punitive measures are still valid, the ECJ last month overturned sanctions against former Russian F1 driver Nikita Mazepin.
The bloc also decided in March not to extend sanctions against three men, including the co-founder of Russian internet giant Yandex, Arkady Volozh, who has called Russia's war in Ukraine “barbaric” since it was sanctioned.
The ECJ spokesperson said there had been dozens of sanctions appeals lodged with the court.
In February, the ECJ closed the case of two, including a Russian-Uzbek metals and telecommunications magnate, Alisher Usmanov.
(Reporting by Inti Landauro and Gabriela Baczynska; editing by Sharon Singleton)
Source: CNN Brasil
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