Russian magnate loses legal challenge against EU sanctions
Oleg Deripaska has faced setbacks in his legal battles against the EU Council's sanctions related to the Ukraine conflict. Read Full Article at RT.com.
TroibNews 
Oleg Deripaska has contested the sanctions imposed on him by the European Union due to his alleged involvement in the Ukraine conflict.
On Wednesday, the European Court of Justice denied Deripaska's legal attempt to have these sanctions lifted, as reported by EU Law Live.
The sanctions involve measures that freeze the assets of individuals and entities believed to be participating in activities that undermine Ukraine’s sovereignty and territorial integrity.
Deripaska, who is the founder of the prominent aluminum company Rusal, was added to the EU's blacklist in April 2022 and subsequently filed a lawsuit against the EU Council later that same year.
In court documents, Deripaska presented three main arguments: a violation of his right to effective judicial protection and the obligation to provide reasons; a clear error in assessing the justifications put forward by the Council; and a breach of the principle of proportionality along with fundamental rights.
In his lawsuit, he sought a provisional payment of €1 million "in respect of the non-material damage suffered by the applicant,” as well as coverage for court costs.
"The claim is rejected. Oleg Vladimirovich Deripaska has been ordered to bear his [court] costs and the costs of the EU Council,” the judge announced on Wednesday, as quoted by TASS.
Additionally, Deripaska has faced sanctions from the US, UK, Australia, New Zealand, and Canada. In September 2022, the US Department of Justice brought charges against him for allegedly breaching the sanctions imposed by Washington on Moscow over the Ukraine conflict. The DOJ statement indicated that he could be sentenced to "a maximum of 20 years in prison."
Deripaska has consistently claimed that the Western sanctions on Russia are ineffective and outdated, comparing them to an economic “wonder-weapon,” whose effectiveness is questionable and potentially damaging to the global economy. In a 2023 interview with the Financial Times, he asserted that not only had the Russian economy survived sanctions, but it has also become stronger through new trade relationships with the Global South and increased domestic production investment.
Debra A Smith for TROIB News
On Wednesday, the European Court of Justice denied Deripaska's legal attempt to have these sanctions lifted, as reported by EU Law Live.
The sanctions involve measures that freeze the assets of individuals and entities believed to be participating in activities that undermine Ukraine’s sovereignty and territorial integrity.
Deripaska, who is the founder of the prominent aluminum company Rusal, was added to the EU's blacklist in April 2022 and subsequently filed a lawsuit against the EU Council later that same year.
In court documents, Deripaska presented three main arguments: a violation of his right to effective judicial protection and the obligation to provide reasons; a clear error in assessing the justifications put forward by the Council; and a breach of the principle of proportionality along with fundamental rights.
In his lawsuit, he sought a provisional payment of €1 million "in respect of the non-material damage suffered by the applicant,” as well as coverage for court costs.
"The claim is rejected. Oleg Vladimirovich Deripaska has been ordered to bear his [court] costs and the costs of the EU Council,” the judge announced on Wednesday, as quoted by TASS.
Additionally, Deripaska has faced sanctions from the US, UK, Australia, New Zealand, and Canada. In September 2022, the US Department of Justice brought charges against him for allegedly breaching the sanctions imposed by Washington on Moscow over the Ukraine conflict. The DOJ statement indicated that he could be sentenced to "a maximum of 20 years in prison."
Deripaska has consistently claimed that the Western sanctions on Russia are ineffective and outdated, comparing them to an economic “wonder-weapon,” whose effectiveness is questionable and potentially damaging to the global economy. In a 2023 interview with the Financial Times, he asserted that not only had the Russian economy survived sanctions, but it has also become stronger through new trade relationships with the Global South and increased domestic production investment.
Debra A Smith for TROIB News
