European Court Affirms EU's Decision to Include Billionaire Roman Abramovich on Sanctions List

Roman Abramovich, the Russian billionaire and previous owner of Premier League football club Chelsea, has been unsuccessful in his attempt to remove his name from the European Union's sanctions list in response to Russia's invasion of Ukraine. The General Court of the Court of Justice of the European Union (CJEU) has upheld the restrictive measures against him by dismissing his legal challenge.

In May 2022, Abramovich brought a case against the EU seeking to annul his inclusion on the sanctions list, CJEU documents said.

Russian entrepreneur Roman Abramovich was present at the inauguration of the 7th Moscow Jewish Film Festival at the Karo 11 Oktyabr Cinema on October 3, 2021. Photo by Artyom Geodakyan/TASS.

Roman Abramovich's legacy at Chelsea is overshadowed by the turmoil in Ukraine. He has disputed the European Union's decision to include him on a list, claiming it to be a "manifest error" and a violation of his fundamental rights.

The CJEU explained in its ruling on Wednesday that the EU's decision to include and maintain Mr. Abramovich's name on the sanctions list was justified, considering his significant role as the major shareholder of Russian steel and mining giant Evraz. The CJEU also highlighted that the Russian and mining sector contributes a substantial amount of revenue to the Russian Government.

Long and close ties to Vladimir Putin

The court based in Luxembourg has determined that placing Abramovich on the sanctions list does not amount to an unwarranted and excessive violation of his basic rights.

Abramovich also requested a payment of €1 million ($1.1 million) to be made to a charitable foundation as compensation for the damage to his reputation.

The CJEU announced on Wednesday that Abramovich was unable to prove that his placement on the sanctions list was unjust, and therefore "his request for compensation is rejected as well."

CNN has contacted Abramovich for his response. He was added to the EU's sanction list in March 2022, alongside Russian officials, including President Vladimir Putin, influential business leaders, and oligarchs, shortly after the conflict started.

The European Union stated that Abramovich has had longstanding and intimate connections with Vladimir Putin and has enjoyed preferential access to the president, maintaining a strong relationship with him. As a result of this connection, the EU asserted that the tycoon has been able to preserve his significant wealth.

To date, the European says almost 1,800 individuals and entities have been placed on the EUs sanctions list and are subject to travel restrictions and asset freezes.

All victims of the war in Ukraine

Abramovich announced in March 2022 that he was selling Chelsea and instructed his team to establish a charitable foundation. He stated that all net proceeds from the sale would be donated to the foundation for the benefit of all victims of the war in Ukraine. Last May, Chelsea was sold to an ownership group led by Todd Boehly in a $5 billion deal, with $3.08 billion earmarked for Abramovich's charitable cause.

During a parliamentary committee hearing last week, UK's Europe Minister Leo Docherty announced that the proceeds from the sale are currently frozen in a UK bank account. He also shared that the government is in the process of having independent experts establish a foundation to manage the money. Docherty emphasized the key difference between the government and others involved in establishing the foundation, stating that it lies in the use of funds either inside Ukraine or for Ukrainians outside of Ukraine.

Abramovich also appears on the UKs sanctions list.