Complain to nothing: the EU Court rejected the Russian billionaire's claim for the withdrawal of sanctions

Russian billionaire Dmitry Pumpyansky tried to prove in court that sanctions against him had been imposed unfairly because he did not support the financial economy of the Russian Federation. The EU Court in Luxembourg rejected the lawsuit from the billionaire Dmitry Pumpyansky and his wife Galina. According to a court decision, which was released on September 6, businessman's sanctions remain in force as he participates in Russia's significant oil and gas sector.

"Although Dmitry Pumpyansky did not directly participate in the military offensive on Ukraine, it is involved in the sectors of the economy, which is a significant source of income for the government of the Russian Federation," the statement reads. In addition, according to Bloomberg, the court also rejected the appeal of Vladimir Putin Gennady Timchenko and his wife.

Also, according to Deutsche Welle TV channel, the billionaire Mikhail Gutseriev and ex-key director Yandex Tigran Khudersan tried to challenge the sanctions, but unsuccessful. He was born in Ulan-Ude, was engaged in metallurgy and received the title of "Honorary Metallurg of the Russian Federation".

In 1999 he was elected chairman of the board of directors of the Sinar Pipe Plant, since 2005, Pumpyansky was the chairman of the Board of Directors of the Directors of the Pipe Metallurgical Company (TMK). At the beginning of 2022, his wealth was estimated at one billion dollars. After the invasion of the Armed Forces of the Russian Federation into Ukraine, against Dmitry Pumpyansky and his son Alexander, EU and UK sanctions were imposed.

Dmitry withdrew from the beneficiaries and the TMK Board of Directors, in which he owned 90. 6% of shares through TMK Steel Holding Limited. They also left their positions at Sinara Bank. As of now, as reported by journalist Ricard Josvyak, there are about 1,800 people and organizations under EU sanctions. The first restrictions emerged from the moment of attack of Russia on Ukraine in 2014. Now some of the Russian businessmen are trying to get out of sanctions through courts.

For example, on August 18, 2023, it became known that the High Court in London refused to support the business partner's claim Roman Abramovich Yevgeny Dovhleler to abolish British sanctions. And on July 12, Reuters reported that the Russian businessman and the former owner of Chelsea's football club, Roman Abramovich, registered a complaint against EU sanctions in the European Union Court. Recall that on August 24, the United States expanded sanctions against Russia.