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InternationalThe EU court excluded two Russian billionaires from the sanctions list

The EU court excluded two Russian billionaires from the sanctions list

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On the 10th of April, the Court of the EU decided to exclude Russian billionaires Mikhail Fridman and Pyotr Aven from the Union’s sanctions list, Reuters reported.

“The General Court of the EU considers that none of the reasons given in the initial rulings are sufficiently substantiated and the inclusion of Mr Aven and Mr Friedman in the (sanctions) list is therefore not justified,” the statement said .

The EU sanctioned the two Russian oligarchs, arguing that in their role as shareholders in Alfa Group, a conglomerate that includes one of Russia’s main banks, Alfa Bank, they provided financial support to Russian officials responsible for the attack on Ukraine.

The ruling by the Luxembourg-based court refers to sanctions imposed on Aven and Friedman between February 2022 and March 2023 over their ties to Russian President Vladimir Putin and the full-scale invasion of Ukraine.

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