Renowned Russian oligarch Roman Abramovich is set to challenge the sanctions imposed by the European Union (EU), contending that they are a result of his political prominence rather than substantive evidence, reports Reuters.
According to the publication, Abramovich filed his appeal against the EU sanctions on May 25, 2022, which will now be reviewed by the General Court of the European Union.
Sources close to the matter suggest that Abramovich’s legal team will argue that the EU sanctions lack justification and are primarily targeted at him due to his status as a “prominent Russian businessman.”
“The sanctions imposed on him are not based on evidence but merely because he is politically the most well-known Russian businessman who should be under sanctions, even if it is an obvious mistake,” stated the source.
However, Abramovich, who also holds Israeli citizenship, emerged as one of the most influential entrepreneurs to amass significant wealth following the disintegration of the Soviet Union. His accumulation of substantial fortune would not have been possible without his dealings with the Kremlin. Forbes estimated his net worth at $9.2 billion.
Previously, it was reported that Abramovich refused to sign an agreement to allocate £2.3 billion ($2.9 billion) obtained from the sale of the football club “Chelsea” to a charitable fund aimed at assisting victims of the Russian war against Ukraine.
With the stage set for a legal battle, the outcome of Abramovich’s appeal will have far-reaching implications for the relationship between Russia, the EU, and the prominent figures navigating the complex intersection of politics and business.
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As the international community watches closely, the verdict of the General Court will determine the validity of the EU sanctions and shed light on the ongoing power dynamics between Russia and Europe. The case has garnered attention not only due to its potential impact on Abramovich’s financial and political standing but also as a symbol of the larger geopolitical tensions prevailing in the region.
Regardless of the verdict, the ramifications of this legal battle will reverberate across the business and political landscapes, casting a spotlight on the delicate balance between sanctions and diplomacy in an era defined by intricate global relationships.
