Putin’s Oligarchs Suing for Lifting Sanctions. Will They Succeed?
Sanctions against Russia are a significant element in countering Russian aggression.
Among them are individual sanctions against Russian oligarchs, officials, and propagandists. Freezing assets and banning travel hurts the "boyars" who support their king's regime.
Sanctioned oligarchs have lost many benefits of civilization. According to the European Commission, their property has been seized for 12.5 billion euros in Europe alone.
So it is not surprising the sanctioned oligarchs do not give up but try to lift sanctions in various ways.
Over the past few weeks, about two dozen of the oligarchs have appealed to the EU Court in Luxembourg over the "illegality" of the sanctions imposed on them, according to lawyer Vladislav Vlasyuk in his article How Putin's Oligarchs Trying to Lift EU Sanctions.
The EU Court has received at least 18 appeals from Russian billionaires and their relatives.
Almost all of them are close to the Russian president and have earned their fortunes by belonging to the Kremlin for many years. Their actual number may be much higher.
The current plaintiff list is as follows: Igor Shuvalov (Chairman of the Bank for Development and Foreign Economic Affairs), Alexander Vinokurov (shareholder of Magnit retail chain, son-in-law of Foreign Minister Sergei Lavrov), Dmitry Pumpyanskiy (shareholder of the Pipe Metallurgical Company), Vadym Moshkovich (shareholder of "Rusagro"), Igor Kesaev (shareholder of the Mercury group of companies), Andrey Melnichenko (shareholder of EuroChem), Dmitry Mazepin (co-owner of Uralkhim), Roman Abramovich (owner of "Millhouse" holding), Viktor Rashnikov (shareholder of Magnitogorsk Iron & Steel Works), Mikhail Fridman (co-owner of Alfa Group), Petro Aven (another co-owner of Alfa Group), Gennady Timchenko (owner of "Volga" Investment Group), Dmitry Konov (director of "Sibur"), Alexei Mordashov (owner of Severstal), Alisher Usmanov (owner of "Metalloinvest"), Saodat Narzieva and Gulbahor Ismailova (sisters of Alisher Usmanov), as well as the propaganda TV channel "RT France."
Alisher Usmanov, Putin's medalist, lost a $600 million "Dilbar" yacht confiscated by German police. The oligarch was also banned from traveling to the European Union.
Disagreeing with the sanctions, on April 29, he appealed the EU's decision to add him to the sanctions list. At the same time, Usmanov asked the court to suspend the sanctions until the judges make a final decision on the main claim.
Therefore, the court does not suspend the arrests imposed on the oligarch's assets for consideration of the claims. However, he has the opportunity to use blocked funds to pay court costs.
Disputes over EU sanctions can last for years and rarely end in a final victory for the plaintiffs. It is almost impossible to escape from the sanctions.
European lawyers do not see Russian billionaires win in court. They believe it is unlikely the European judicial system will make a decision in the interests of people close to Putin.