RUSSIAN BILLIONAIRE ABRAMOVICH LOSES LEGAL ACTION AGAINST EU SANCTIONS

Thu 21 December 2023:

Roman Abramovich, a billionaire Russian and the former owner of Chelsea, a Premier League team, has lost a legal battle to have his name removed from the list of individuals subject to EU sanctions as a result of Russia’s invasion of Ukraine.

The 27-member bloc sanctioned Russian officials and businessmen, freezing billions of dollars of Russian assets, after Moscow’s war on Ukraine in February 2022. Abramovich, a former owner of British football club Chelsea, had challenged these restrictions.

“The General Court dismisses the action brought by Mr Abramovich, thereby upholding the restrictive measures taken against him,” the Court of Justice of the European Union said in a statement.

It noted that the EU “did not in fact err in its assessment” by deciding to include then maintain Abramovich’s name on the lists at issue.

“The Court observes, furthermore, that the inclusion and maintenance of Mr Abramovich’s name on the lists at issue do not constitute an unjustified and disproportionate infringement of his fundamental rights, which include, in particular, the right to respect for private and family life, the freedom to conduct a business and free movement,” added the statement.

The European Union said Abramovich “has long and close ties to Vladimir Putin,” and “has had privileged access to the president, and has maintained very good relations with him.”

A connection, the EU said, allowed the tycoon “to maintain his considerable wealth.”

“He has therefore been benefitting from Russian decision-makers responsible for the annexation of Crimea or the destabilisation of Ukraine,” the EU claimed.

The EU also alleged that as “one of the leading Russian businesspersons,” Abramovich provided “a substantial source of revenue to the Government of the Russian Federation.”

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

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