Russian billionaire and former owner of Premier League football club Chelsea Roman Abramovich has lost a legal challenge to overturn his inclusion on the European Unionโs sanctions list following Russiaโs invasion of Ukraine.
In its ruling the General Court of the Court of Justice of the European Union (CJEU) dismissed the action brought by Abramovich โthereby upholding the restrictive measures taken against him.โ
In May 2022, Abramovich brought a case against the EU seeking to annul his inclusion on the sanctions list, CJEU documents said.
Abramovich claimed there was โmanifest errorโ in the European Unionโs assessment and the decision to include him on the list is an โinfringement of fundamental rightsโ and โunjustified interferenceโ of his fundamental rights enshrined in EU law.
In Wednesdayโs ruling, the CJEU explained that in light of Abramovichโs role as the major shareholder of Russian steel and mining giant Evaraz, the EU โdid not in fact err in its assessment by deciding to include then maintain Mr Abramovichโs name,โ on the sanctions list.
The Russian and mining sector โprovides a substantial source of revenue to the Russian Government,โ the CJEU detailed.
The Luxembourg-based court concluded that Abramovichโs inclusion on the sanctions list did โnot constitute an unjustified and disproportionate infringement of his fundamental rights.โ
Abramovich had also sought compensation of โฌ1 million ($1.1 million) to be paid into a charitable foundation for damages to his reputation.
On Wednesday, the CJEU said Abramovich had failed to demonstrate that his inclusion on the sanctions list was unlawful, and โhis claim for compensation is also dismissed.โ
CNN has reached out to Abramovich for comment.
Abramovich was placed on the EUโs sanction list along with Russian officials, including the countryโs president Vladimir Putin, prominent business leaders and oligarchs in March 2022 shortly after the conflict began.
The European Union said Abramovich โhas long and close ties to Vladimir Putin,โ and โhas had privileged access to the president, and has maintained very good relations with him.โ
A connection, the EU said, allowed the tycoon โto maintain his considerable wealth.โ
โHe has therefore been benefitting from Russian decision-makers responsible for the annexation of Crimea or the destabilisation of Ukraine,โ the EU claimed.
The EU also alleged that as โone of the leading Russian businesspersons,โ Abramovich provided โa substantial source of revenue to the Government of the Russian Federation.โ
To date, the European says almost 1,800 individuals and entities have been placed on the EUโs sanctions list and are subject to travel restrictions and asset freezes. (CNN)