The EU Court canceled personal sanctions against Russian oligarchs Fridman and Aven

The Court of the European Union canceled personal sanctions against Russian oligarchs Mikhail Fridman and Peter Aven, satisfying their lawsuit.

Sanctions against both businessmen were imposed in the period from February 2022 to March 2023.

After the full-scale Russian invasion of Ukraine, Mykhailo Fridman was sanctioned by the European Union and Great Britain. Mykhailo Fridman and his Alfa Group partners Petro Aven, Oleksiy Kuzmichev and Herman Khan have been sanctioned by the EU for their alleged ties to Putin.

Friedman complained about the financial constraints associated with the sanctions. He, like a number of other businessmen, challenged the sanctions, arguing that they have no influence on Putinʼs policies.

• However, investigators from the Russian publication "Projekt" found out that more than 80 Russian oligarchs are openly financing the Russian military. Friedman is among them.
• In August 2023, the United States added Mykhailo Fridman and Petro Aven to the sanctions list as co-owners of “Alfa-Bank”.
• In September 2023, the Security Service of Ukraine notified Russian oligarch Mykhailo Fridman of suspicion of financing Russiaʼs war in Ukraine (Part 3 of Article 110-2 of the Criminal Code), and in December the SBU declared him wanted.