The EU Court said the bloc’s sanctions criteria were objective, sufficiently precise and proportionate. They target prominent businesspeople operating in Russia, particularly those active in sectors that provide significant revenue to the Russian government.
It dismissed Abramovich’s claim that the EU was targeting him because of his public profile, noting that sanctions were imposed on him because of his capital holding “and not, as he maintains, a desire to exploit him on account of his public notoriety,” the statement said.
Judges also rejected Abramovich’s argument that the measures were effectively decided by Council working groups rather than by EU governments directly. Even if those groups may have carried out preparatory work, the Council took the final decision, the Court said.
Restrictions therefore complied with EU law and the bloc’s Charter of Fundamental Rights, it said and proportionate to the objective of supporting a peaceful resolution to the war in Ukraine.
Abramovich may appeal to the Court of Justice of the EU within two months and 10 days from notification of the judgment.
He is also subject to sanctions in the U.K., where the government has sought to claim the proceeds of his sale of Chelsea Football Club.
The £2.5 billion is frozen in a bank account, where they have been since 2022, when the U.K. sanctioned Abramovich over his ties to Vladimir Putin.
