Roman Abramovich Loses EU Court Battle Against Sanctions

Russian billionaire Roman Abramovich suffered a legal setback on Wednesday after the European Union’s second-highest court rejected his challenge against sanctions imposed in the wake of Russia’s war on Ukraine.

The EU blacklisted the former Chelsea Football Club owner in 2022, shortly after Moscow launched its full-scale invasion, arguing that Abramovich’s close association with Russian President Vladimir Putin was instrumental in helping him amass his fortune. The sanctions included a freeze on assets and a travel ban across the bloc.

Abramovich contested the measures before the General Court of the European Union, maintaining that the restrictions were unjust and based on flawed reasoning, particularly the EU’s claim of his Kremlin connections. He also sought damages for harm to his reputation.

On Wednesday, however, the court dismissed his case, declaring the sanctions “necessary and appropriate.” Judges emphasized Abramovich’s role as a major shareholder in Evraz, a steel and mining company that generates significant revenues for the Russian state.

The ruling marks another defeat in Abramovich’s broader attempts to overturn penalties tied to the Ukraine conflict. He has mounted legal battles both in the EU and the United Kingdom, with his legal team asserting that his high profile has made him a convenient target. So far, those efforts have yielded little success.

In the immediate aftermath of the invasion, Abramovich agreed to sell Chelsea FC, completing the transaction at what became the highest price ever paid for a football club.

The British government has since declared its intention to seize the £2.5 billion proceeds and redirect the funds toward supporting Ukraine.

Wednesday also saw a parallel ruling against another sanctioned figure. Former Ukrainian President Viktor Yanukovych, who fled to Russia after being ousted in 2014, lost his decade-long attempt to overturn EU sanctions that had been levied against him.

By fLEXI tEAM