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Former Chelsea owner Abramovich loses legal challenge against EU sanctions

2023-12-20 20:48:01, Kosova & Bota CNA
Former Chelsea owner Abramovich loses legal challenge against EU sanctions
Former owner of English football club Chelsea, Russian billionaire Roman Abramovich.

The former owner of the English football club Chelsea, the Russian billionaire Roman Abramovich, lost on Wednesday his legal challenge against the sanctions that the European Union (EU) had imposed on him after Russia's invasion of Ukraine.

After Russian President Vladimir Putin ordered Russian troops to launch an invasion of Ukraine in February 2022, the EU sanctioned Russian officials, including a number of Russian businessmen, including Abramovich.

Abramovich had filed a legal appeal against the sanctions against him.

But the EU Court in Brussels rejected his appeal and claims for compensation, citing his role in the Russian steel company, Evraz, and the fact that steel was a major source of income for the Russian government.

"The General Court rejects the appeal filed by Abramovich, thus keeping the restrictive measure against him in force," the court's decision states.

When it sanctioned Abramovich, the EU said that he "had privileged access" to Putin and that he "had very good relations with him".

Abramovich, who also holds Israeli citizenship, became one of the most powerful businessmen after the collapse of the Soviet Union in 1991. Forbes estimates that he is worth $9.2 billion.

Abramovich has said in a press release that he feels disappointed with the court's decision.

He has also been punished in the UK and his assets have been frozen in response to Russia's invasion of Ukraine.

Abramovich sold Chelsea after being sanctioned by the British Government. The Premier League club was bought by Todd Boehly for a record £2.5 billion.

His sale marked the end of a trophy-laden 19-year era of Abramovich at the London club./ REL





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