The sanctions against Russian billionaire and former Chelsea FC of England owner, Roman Abramovich has been upheld by European Union’s top court.
Abramovich was one of the Russian Oligarchs and prominent business men placed on sanctions lists by the EU following the Russia’s invasion of Ukraine in February 2022.
The EU had sanctioned some Russian officials and a host of Russian businessmen, as well as freezing hundreds of billions of dollars of Russian assets following the invasion order of President Putin.
Abramovich had in May 2022 launched a legal challenge against the sanction but the courts have now dismissed his case.
“The General Court dismisses the action brought by Mr Abramovich, thereby upholding the restrictive measures taken against him,” said the EU’s top court in a ruling.
Abramovich, was said to have emerged as one of the world’s most powerful businessmen after the 1991 break-up of the Soviet Union.
His fortunes, according to Forbes is estimated his net worth at $9.2 billion.
Amongst other things, the Russian Billionaire who is also an Israeli citizenship was made to sell off Chelsea in England.
The Russia-Ukraine war still rages on its 665th day.
According to the EU, almost 1,800 individuals and entities have been placed on the EU’s sanctions list and are subject to travel restrictions and asset freezes.
Abramovich had stated that all net proceeds from the sale of Chelsea will be donated to charity, adding that the foundation will be for the benefit of all victims of the war in Ukraine.
Chelsea would later be sold to an ownership group led by Todd Boehly, of which $3.08 billion would be donated to Abramovich’s charitable cause
