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Evraz

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business2 years ago

"EU Court Upholds Sanctions Against Russian Billionaire Abramovich Amid Ukraine War"

Russian billionaire Roman Abramovich has failed to overturn European Union sanctions imposed on him following Russia's invasion of Ukraine. The General Court of the European Union rejected Abramovich's legal challenge, stating that he had failed to demonstrate that his inclusion on the sanctions list was unlawful. The court upheld the freezing of his assets and travel ban within the EU. Abramovich can appeal the ruling, but it is unclear if he will do so.

via Forbes|
#business#eu-sanctions#evraz
international-relations2 years ago

Abramovich's Legal Challenge Fails: EU Sanctions Upheld

Russian billionaire Roman Abramovich has lost his legal challenge against European Union (EU) sanctions imposed on him following Russia's invasion of Ukraine. The EU court in Brussels rejected Abramovich's challenge and dismissed his claims for compensation, citing his role in the Russian steel company Evraz and the significant revenue it provides to the Russian government. Abramovich, who holds Israeli citizenship and is a former owner of Chelsea Football Club, expressed disappointment with the ruling, stating that the court had not considered certain arguments and that he had not benefited from the Ukraine war.

via Reuters|
#eu-sanctions#european-court#evraz
business2 years ago

Abramovich's Legal Challenge Fails as EU Court Upholds Sanctions

Russian billionaire Roman Abramovich has denied benefiting from the war in Ukraine after the European Union's General Court upheld sanctions against him. The court ruled that Abramovich, the majority shareholder in steel and mining group Evraz, provides a "substantial source of revenue" to the Russian government. Abramovich's representatives stated that he does not have the ability to influence any government's decision-making and has not benefited from the war. While disappointed with the ruling, they welcomed that the court did not consider certain arguments presented by the EU Council. Abramovich was targeted by the EU and the UK in March 2022, leading to the freezing of his assets and the sale of his ownership of Chelsea Football Club.

via CNBC|
#business#eu-sanctions#evraz