The European Court of General Jurisdiction satisfied the lawsuit of Russian billionaire Dmytro Pumpiansky regarding the exclusion of him and his wife from the sanctions list of the European Union.
Points of attention
- The European Court satisfied Russian oligarch Dmitry Pumpiansky's lawsuit regarding the exclusion of him and his wife from the EU sanctions list.
- The decision states that the former co-ownership of Pumpyan enterprises is not a basis for EU sanctions.
- Pumpiansky was put on the EU sanctions list after the Russian invasion of Ukraine, but now he is the first Russian billionaire to have the sanctions lifted through the courts.
- According to the court's decision, the Council of the European Union must pay the expenses incurred by the businessman in connection with the sanctions.
What is known about the lifting of EU sanctions against Russian billionaire Dmitry Pumpiansky and his wife
The court ruling states that his former co-ownership of the Pumpiansky Group "Sinara" and the Pipe Metallurgical Company (TMK) and his position as a top manager in these companies are not reasons to include him in the EU sanctions list.
The decision on sanctions against Pumpyansky will be annulled, and the Council of the European Union will be ordered to pay the businessman's costs.
This decision also concerns Pumpyanskyi's wife, Halyna, who was excluded from the EU blacklist.
What is known about the inclusion of Pumpyanskyi in the EU sanctions list
Pumpiansky was added to the sanctions list of the EU and Great Britain immediately after the criminal invasion of the occupation army of the Russian Federation into Ukraine.
At that time, he controlled 90% of TMK and was a member of its board of directors. He was also a beneficiary and president of Sinara. However, due to the sanctions, he left all positions in both companies.
In September 2023, the EU court refused to lift restrictions on Pumpiansky, arguing that although the businessman "did not play a direct role in the military offensive in Ukraine, he participates in sectors of the economy that represent a significant source of income for the government of the Russian Federation."
Pumpiansky became the first Russian billionaire to get EU sanctions lifted through court.
According to mass media, the businessman's fortune is estimated at 3.3 billion dollars.
The vice president of AFK "Sistema" Sergei Mndoyants and the ex-director of the "Ozon" trading platform Aleksandr Shulgin, who are not included in the ranking of the wealthiest people in Russia, achieved similar court decisions.
