Former Chelsea owner Roman Abramovich has lost his legal bid to overturn sanctions imposed by the European Union over his role in Russia’s invasion of Ukraine.
Mr Abramovich had filed a lawsuit at the EU’s general court against the European Union Council, which imposed the punishment on the 57-year-old oligarch in 2022 as part of measures targeting Russia and President Vladimir Putin’s close allies.
The court said on Wednesday: “The General Court dismisses the action brought by Mr Abramovich, thereby upholding the restrictive measures taken against him.
“The Council did not in fact err in its assessment by deciding to include then maintain Mr Abramovich’s name on the lists at issue, in the light of his role in the Evraz group and, in particular, its parent company.”
#EUGeneralCourt dismisses the action brought by Mr Roman Arkadyevich Abramovich, thereby upholding the restrictive measures taken against him #Ukraine #war 👉 https://t.co/ATb3CgbPxg
Advertisement— EU Court of Justice (@EUCourtPress) December 20, 2023
When it sanctioned Mr Abramovich, the 27-nation bloc said he “had privileged access” to Mr Putin and “maintained very good relations with him,” allowing the tycoon to “maintain his considerable wealth”.
According to the EU, Mr Abramovich’s economic activities provided substantial revenues to the Russian government.
“He is a major shareholder of the steel group Evraz, which is one of Russia’s largest taxpayers,” the European Council said at the time.
“He has therefore been benefiting from Russian decision-makers responsible for the annexation of Crimea or the destabilisation of Ukraine.”
Mr Abramovich, whose claim for compensation was also dismissed, can appeal against the ruling.
The businessman has also been punished in the UK and had his assets frozen in response to Russia’s invasion of Ukraine.
Mr Abramovich was also forced to sell Chelsea after being sanctioned by the UK Government for what it called his enabling of Mr Putin’s “brutal and barbaric invasion” of Ukraine.
The sale of the Premier League club for £2.5 billion – then the highest price ever paid for a sports team – was completed by a consortium fronted by Los Angeles Dodgers part-owner Todd Boehly.
It marked the end of the trophy-laden, 19-year tenure of Mr Abramovich.
The EU has imposed 12 rounds of sanctions on Russia since President Vladimir Putin ordered his troops into Ukraine almost two years ago.
The measures have targeted the energy sector, banks, companies and markets, and made more than 1,000 Russian officials subject to asset freezes and travel bans.
The EU sanctions against Mr Abramovich were announced after a BBC investigation revealed evidence about alleged corrupt deals that made the Russian businessman’s fortune.
According to the BBC, Mr Abramovich made billions after buying an oil company from the Russian government in a rigged auction in 1995.
The broadcaster said he paid around 250 million dollars (£196 million) for Sibneft, before selling it back to the Russian government for 13 billion dollars (£10.2 billion) in 2005.
