Russian billionaire Abramovich fails to overturn EU sanctions as top court rejects appeal
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The Court of Justice of the European Union has dismissed a lawsuit filed by Russian oligarch Roman Abramovich to lift sanctions imposed on him after Russia's full-scale invasion of Ukraine, Reuters reported on Dec. 20.
The European court also said that it took into account Abramovich's role in the Russian steel company Evraz Group and the fact that steel is the main source of revenue for the Russian government.
The EU Council notes that it was not mistaken in its assessment in deciding to keep Abramovich on the sanctions list.
Abramovich, who also holds Israeli citizenship and is the former owner of the English Premier League football club Chelsea, became one of the world's most influential businessmen after the collapse of the Soviet Union in 1991. Forbes estimates his net worth at $9.2 billion.
Roman Abramovich has been under UK sanctions since March 10, 2022, and under European Union sanctions since March 15, 2022. He is also on the lists of Ukraine, Canada, Australia, and other countries.
Read also: EU developing mechanism to sanction relatives of Russian oligarchs, report says
The EU imposed sanctions on Russian officials and a number of Russian businesspersons and froze hundreds of billions of dollars worth of Russian assets after Feb. 24, 2022. Abramovich appealed the decision in court.
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