The Russian billionaire Abramovich had sued because of the EU sanctions imposed on him. But an EU court has now decided that freezing his assets is legal.
The Russian oligarch and former owner of Chelsea FC, Roman Abramovich, has suffered a defeat at the General Court of the European Union (ECJ). The court declared the EU sanctions against him legal and dismissed his lawsuit.
Because of Russia’s war of aggression against Ukraine, the EU has so far imposed sanctions on almost 2,000 people and organizations. In March 2022, she froze Abramovich’s assets. The reason for this was that he had long-standing and close ties to Russian President Vladimir Putin.
Abramovich is, among other things, the main shareholder in the parent company of Ewras, one of the largest Russian steel and mining companies. The CJEU confirmed that this economic sector is a significant source of income for the Russian government. Abramovich was therefore rightly placed on the sanctions list and left there. Portuguese nationality and therefore Union citizenship do not stand in the way of this.
Abramovich can go to the ECJ
Abramovich sued, but unsuccessfully. The judges have now decided that the Council of the European Union did not make an error of judgment when Abramovich was placed on the sanctions list. This will not disproportionately restrict his fundamental rights, especially since there is the possibility of using the frozen assets to cover basic needs.
His application for compensation of one million euros for damage to his reputation was also rejected. The judgment can still be appealed to the highest European court, the European Court of Justice (ECJ).