Tony Blair`s spouse represents Russian businessman in USD16bn lawsuit
Date
8/18/2024 8:11:42 AM
(MENAFN) Cherie Blair, the spouse of former British Prime Minister Tony Blair, has been enlisted to represent Mikhail Fridman, a prominent Russian billionaire, in a major legal dispute involving Luxembourg. The case centers on Fridman's claim against the European Union’s sanctions, which led to the freezing of his assets.
According to Vedomosti, Fridman, the founder of Alfa Group—a significant Russian investment consortium—is pursuing nearly EUR15 billion (USD16 billion) in damages through international arbitration. His lawsuit, filed against Luxembourg, challenges the freezing of his assets, which he argues was unjustly imposed under European Union sanctions. The billionaire contends that these sanctions were enacted due to his Russian nationality and business achievements, branding them as a “grave injustice” and a breach of international law.
Fridman’s legal action asserts that Luxembourg’s measures violate a 1989 treaty between the Soviet Union and Belgium designed to protect investors' assets from actions such as expropriation and nationalization. The billionaire, who faced sanctions from the United Kingdom, European Union, and Canada in 2022 and from the United States in 2023, has previously achieved a partial victory by successfully suing the European Union to remove his name from the sanctions list in April.
The involvement of Cherie Blair adds a high-profile dimension to this high-stakes legal battle, highlighting the complexities of international sanctions and asset protection in today’s geopolitical landscape.
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