EU changes rationale for Abramovich sanctions after court ruling

The European Union has changed the wording of the justification for sanctions against Russian billionaire Roman Abramovich (net worth $9.7 billion according to FORBES ), The Jerusalem Post (JP) reports, citing a corresponding statement.

EU sanctions documents previously said Abramovich benefited from connections "with Russian decision-makers responsible for the annexation of Crimea or the destabilisation of Ukraine" and that he was involved "in economic sectors that provide a significant source of income to the government" of RUSSIA.

JP notes that the first wording was deleted.

Abramovich tried to get the sanctions against him lifted, but the EU court ruled against the businessman at the end of 2023. The court cited his role in the metallurgical company Evraz (Abramovich is its largest, but not controlling shareholder with a 28.64% stake), which is also stated in the justification for the sanctions against him. But not all of the arguments cited by the EU in this justification were considered correct by the court.

Abramovich's side expressed disappointment after the court's ruling, but welcomed "the fact that the court did not take into account several arguments presented by the EU Council and did not include them as a basis for maintaining the sanctions." This included suggestions that Abramovich had received financial or other benefits from the Russian government. The businessman's side insisted that the decision to maintain the sanctions "was based solely on the fact that the court defined Mr. Abramovich as a "Russian businessman."

The entrepreneur went to court in May 2022, that is, two months after he was subject to sanctions .

Russia considers the sanctions illegal and demands that they be lifted.

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