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Russian businessman fails EU sanctions legal offer
(MENAFN) The European Court of Justice has dismissed a legal challenge by Russian tycoon Oleg Deripaska to have EU sanctions lifted. The sanctions, imposed by the EU Council in April 2022 due to Russia's actions in Ukraine, freeze the assets of individuals linked to undermining Ukraine's sovereignty. Deripaska, the founder of aluminum giant Rusal, filed a lawsuit claiming violations of his rights to judicial protection, proportionality, and the duty to provide reasons for sanctions. He also requested a provisional payment of €1 million for non-material damages.
The court rejected his claims, ordering Deripaska to cover his own legal costs as well as those of the EU Council. In addition to EU sanctions, Deripaska faces restrictions from the US, UK, Australia, New Zealand, and Canada. The US Department of Justice also charged him in 2022 for allegedly violating US sanctions, with a potential sentence of up to 20 years in prison. Despite these measures, Deripaska has criticized the sanctions, suggesting that they have had little impact on Russia’s economy, which he argues has grown stronger through new international partnerships.
The court rejected his claims, ordering Deripaska to cover his own legal costs as well as those of the EU Council. In addition to EU sanctions, Deripaska faces restrictions from the US, UK, Australia, New Zealand, and Canada. The US Department of Justice also charged him in 2022 for allegedly violating US sanctions, with a potential sentence of up to 20 years in prison. Despite these measures, Deripaska has criticized the sanctions, suggesting that they have had little impact on Russia’s economy, which he argues has grown stronger through new international partnerships.
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