Page 10 - bneIntelliNews monthly country report Russia May 2024

2.3 EU courts partially lifts sanctions on oligarchs Mikhail Fridman, Petr Aven of the Alfa Group
The first reports of the EU court lifting sanctions against the co-founders of Alfa Group, billionaires Mikhail Fridman and Petr Aven, appeared on April 10.
The narrative seemed crystal clear: oligarchs close to the authorities, who had formally broken with Russia but did not decisively condemn the invasion of Ukraine, made full use of hired lawyers and lobbies to achieve the solution they needed.
The former chief of staff of Alexei Navalny, Leonid Volkov (recognised as a foreign agent), wrote that “the EU court just gave them what they wanted on a silver platter.”
Friedman commented lapidarily: “We are satisfied with this decision.”
After the publication (first in French) of the EU Court's decision on Friedman's lawsuit, it became clear that it concerns only the first decisions to impose sanctions and their extension. But not subsequent ones, in which the grounds for sanctions are strengthened. So they will continue to act.
the sanctions were based on the fact that Fridman, one of the main shareholders of Alfa Group, has close ties with Vladimir Putin and those close to him, is their financier, benefits from the lobbying efforts of the Russian authorities, and therefore provides “material and financial support » politicians responsible for the annexation of Crimea and the destabilisation of Ukraine.
The court's decision makes clear the haste in preparing the sanctions: among other things, the EU Council referred to a 2018 article by The Daily Beast and a 2015 compilation by the Mirror of the Week.
The EU Council nevertheless tried to use the “influential businessman” argument in court, pointing to Alfa Bank’s payment of taxes to the Russian budget. But the court did not accept it, citing the fact that the expansion of the evidence base retroactively violates Friedman’s right to defence.
Other grounds for sanctions did not stand up in court. Two of them are based on the statute of limitations: the promotion of Alfa Group’s application for Turkcell by Vladimir Putin dates back to 2005, Fridman and Aven’s participation in the informal summit on sanctions in Washington dates back to 2018. Thus, they cannot be linked to preparations for the invasion of Ukraine.
Otherwise, the court ruled that neither proximity to the Kremlin nor the status of a shareholder of the largest private bank can be considered evidence of the billionaire’s support for the policies of the Russian government. And the financing of the Alfa-Endo Foundation of Putin’s eldest daughter Maria Vorontsova is the sponsorship of those responsible for the destabilisation of Ukraine.
10 RUSSIA Country Report May 2024 www.intellinews.com