In a closely watched legal battle, the European Court of Justice (ECJ) is set to deliver a ruling today regarding the appeal of billionaire Roman Abramovich against his inclusion on the EU’s sanctions list. This follows the EU’s response to Russia’s invasion of Ukraine in 2022, which led to the sanctioning of various Russian officials, business leaders, and oligarchs, including Abramovich. Abramovich also appears on the UK’s sanctions list.
Background of Sanctions
Roman Abramovich, known for his ownership of the Chelsea Football Club, was placed on the EU’s sanctions list in March 2022, alongside Russian President Vladimir Putin and other notable figures. The EU has accused Abramovich of having “long and close ties to Vladimir Putin,” alleging that these connections have enabled him to amass and maintain significant wealth. The EU contends that Abramovich has benefited from Russian decision-makers, linking him to the annexation of Crimea and the destabilization of Ukraine.
EU’s Allegations and Sanctions Impact
According to the EU, Abramovich, as a prominent Russian businessperson, is a major source of revenue for the Russian government. The EU’s sanctions list, affecting almost 1,800 individuals and entities, imposes travel restrictions and asset freezes.
In May 2022, Abramovich contested his inclusion on the sanctions list at the ECJ, alleging a “manifest error” in the EU’s assessment. He argues that the decision infringes upon his fundamental rights as enshrined in EU law and constitutes an “unjustified interference.”
Abramovich seeks compensation of €1 million for reputational damages, requesting that the amount be donated to a charitable foundation for conflict victims, which is being established in relation to the sale of Chelsea FC.
Sale of Chelsea FC
In March 2022, Abramovich announced the sale of Chelsea FC, intending to donate the net proceeds to a charity for Ukrainian war victims. The club was sold in May for $5 billion to a group led by Todd Boehly, with $3.08 billion earmarked for Abramovich’s charitable cause.
However, the UK’s Europe Minister Leo Docherty recently revealed that the sale proceeds are frozen in a UK bank, with plans underway to establish an independent foundation to manage the funds. The UK government emphasizes the need for swift deployment of these funds to benefit Ukrainians within Ukraine, marking a key point of discussion in the ongoing process.
