EU Court Grants Request to Lift Sanctions for Russian Billionaires

The European Union Court has granted the request of Russian billionaires Pyotr Aven and Mikhail Fridman to annul the sanctions imposed on them.

Brussels had included the co-founders of Alfa Bank in the sanctions list following Russia's military invasion of Ukraine. The EU had argued that Aven and Fridman provided material or financial support to decision-makers on a state level and supported actions and policies that undermine or threaten Ukraine's territorial integrity, sovereignty, and independence.

The Russian billionaires strongly deny these allegations. The EU court ruled that none of the reasons presented by the Alliance for including the billionaires in the sanctions lists were sufficiently justified. Official Brussels may appeal this decision.

Aside from the EU, sanctions have also been imposed on Aven and Fridman by the United States, the United Kingdom, Ukraine, and several other states that support Kyiv in its fight against the Russian invasion.