A court in Tel Aviv ordered a local bank to unblock Abramovich's transfer

The Tel Aviv District Court ordered the Israeli bank Mizrahi-Tefakhot to carry out a blocked transfer of donations from Russian businessman Roman Abramovich to the volunteer rescue organization ZAKA, Globes reports.

The transfer in the amount of 8 million shekels (about $2.2 million) was blocked due to sanctions. Mizrahi Tefahot, according to Globes, has announced its intention to appeal, so the entry into force of the decision is delayed by at least 72 hours.

Abramovich and ZAKA sued the bank after it refused to make the transfer. Mizrahi-Tefakhot explained the decision by saying that it cannot do business with persons included in the EU and UK sanctions lists , Globes writes.

At the same time, the statement of claim by ZAKA and Abramovich, which the publication previously referred to, stated that the businessman’s account was blocked due to sanctions imposed by the EU and the UK, and therefore no transactions could be carried out.

Judge Yardena Seroussi, who heard the lawsuit, said that EU sanctions against Abramovich do not apply in Israel, so Mizrahi Tefahot must unblock the transfer. She emphasized that the bank received a request to transfer funds from one Israeli account to another. “Is it reasonable for a bank to accept European sanctions when there is no doubt that they do not apply to Israel? Especially when it comes to donating to an organization that is helping Israel in difficult times?” - she said.

Seroussi added that she was inclined to approve the petition and recommended that the bank “make an exception.”

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Abramovich ( Forbes estimates the fortune of the businessman and his family at $9.2 billion) came under EU and UK sanctions in March 2022. Brussels called him "a Russian oligarch with long-standing and close ties to [Russian President] Vladimir Putin." The EU also noted that Abramovich is a key shareholder in the metals and mining company Evraz and that the company is one of the largest taxpayers in Russia.

Abramovich tried to challenge the restrictions, but the European Court of General Jurisdiction refused to lift the sanctions against him.