RUSSIA: Roman Abramovich, a Russian billionaire, will contest the penalties imposed on him after the Ukraine war, by the European Union (EU) on Wednesday. His attorneys argue that the restrictions were unjustified and solely due to his fame as a prominent Russian businessman.
Abramovich’s legal team, including Bonntick, Zatschler, and Bonfassi, presented a persuasive case, highlighting his global recognition and not solely based on his Russian ancestry.
Abramovich, a Russian-born Israeli and Jew, is the founder and former owner of Chelsea Football Club and Millhouse LLC. He previously held the Chukotka region’s Governor position from 2000 to 2008. Abramovich’s wealth, estimated at $14.5 billion in 2021, fluctuated between $6.9 billion in 2022 and $9.2 billion in 2023.
Roman Abramovich, a prominent Russian in Europe, gained fame for his 20-year tenure as Chelsea FC owner. His legal team challenged the legitimacy of EU penalties, arguing that the European Council did not provide sufficient proof to support the measures enacted last year. They argued that the council’s decision was based on nebulous press and blog pieces rather than solid evidence.
The attorneys argued that Abramovich did not profit from Russian authorities’ decisions and disputed the European Council’s refusal to provide evidence. They argued that the council’s judgment was based on historical events, not current and pertinent evidence. The lawyers added that Abramovich was sanctioned politically, even if it was a manifestation of error.
Abramovich’s legal representatives argued sanctions should not have been imposed due to his response to Ukraine’s mediation plea, citing his humanitarian work and involvement in negotiations.
The council’s contention that Abramovich was a majority shareholder in Evraz is rejected by attorneys, as legal precedents in the EU state that shareholding does not constitute a business activity.
Abramovich, along with six other Russian businesspeople, was sanctioned by the UK in 2022 for their alleged connections to the Kremlin. The UK imposed a travel ban and blocked Abramovich’s UK assets, while Abramovich rejected the Kremlin and Putin’s strong ties. The European Union Court of Justice is expected to review the case fairly and objectively.
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