Putin's magnate failed: Herman Khan lost the court against the EU sanctions

According to the agency, the magnate lost a lawsuit against the sanctions of the European Union because of his probable close ties with Russian President Vladimir Putin and an influential role in Russia. Today, Herman Khan is the most famous for his company Letterone, which was founded in 2013, together with partners Mikhail Friedman, Alexei Kuzmichov and Peter Aven, and is located in Luxembourg. They all left the Board of Directors after sanctions were imposed against them.

In addition, Khan was persecuted for his role in Alfa Group, which, together with his partners, controls the largest Russian retail network and a private bank. The EU also stated that Khan "maintains a close relationship with" Putin and "continues to provide him with significant services," adding that the group owners also received "business and legal benefits from this relationship.

" The EU has imposed sanctions on nearly 1800 people and organizations from the moment of Russia's attack on Ukraine. Appeals in EU courts for sanctions can last for years and rarely end with victory. For example, former President of Ukraine Viktor Yanukovych and his son remain on the EU sanctions list since 2014, even after several court appeals have won.

At the same time, the EU judges on Wednesday, November 29, abolished the EU sanctions against Alexander Pumpyansky, the son of billionaire Dmitry Pumpyansky, whose fortune was built around PJSC "TMK", the largest Russian steel pipe manufacturer. According to the decision, the EU Council failed to prove that family ties with the father who remains on the sanction list sufficiently justify the inclusion of a son. The court rejected the EU evidence as insufficient.

By the way, on September 12, Russian President Vladimir Putin, speaking at the Eastern Economic Forum, stated that Russia had already earned twice as much of the amount that was frozen by other countries. Recall that on August 11, the United States imposed new sanctions against Russian billionaires.