European Court of Justice dismisses four more cases of Russian oligarchs to be taken off from sanctions list

The European Court of Justice rejected the cases of Russian oligarchs Gennady Timchenko, Mikhail Gutseriev, Tigran Khudaverdyan, and Alexander Shulgin, who demanded the EU to lift sanctions against them.

Radio Liberty journalist Rikard Jozwiak reported that the complaint of Dmitry Pumpyansky and his wife, close to the Russian Federation dictator, was also rejected.

"All other cases related to EU sanctions (visa bans & asset freezes) against Russia and Belarus, including Timchenko, Shulgin, Khudaverdyan and Gutseriev, were also dismissed. It means that the EU legal grounds for sanctioning are solid," the journalist said.

As reported, the Russian oligarchs tried through the court to remove the sanctions imposed against them due to the war against Ukraine launched by the President of Russia, Vladimir Putin.

The Russian agency TASS also reported, referring to the representative of the European court, that complaints against the sanctions of Russian businessmen Dmitry Pumpyanskyi, Gennadiy Timchenko, Mikhail Gutseriev, and Tigran Khudaverdyan were rejected. Shulgin was not mentioned in the TASS report.

Earlier, the Court of Justice of the European Union announced that it rejected the complaint of the Russian oligarch Dmitry Pumpyansky and his wife, Halyna Pumpyanska, against European Union sanctions.

"Although Dmitry Pumpyansky did not directly participate in the military offensive against Ukraine, he is involved in sectors of the economy that are a significant source of income for the government of the Russian Federation," the court said.

Last year, for the first time, the Axioma yacht of Russian oligarch Dmitry Pumpyansky, arrested in Gibraltar, was sold at auction for $37.5 million.

EU High Representative Josep Borrell wrote in his blog that Western sanctions have a sufficient impact on the economic, industrial, and technological potential of the Russian Federation, and accusations that they do not work are not true.

As Rubryka reported, the content of the last of the 11 packages of sanctions against Russia was made public by the EU on June 23, 2023.