British Supreme Court rejects appeal of Russian billionaire regarding sanctions: his business remains under restrictions
The judicial authorities in the United Kingdom have upheld their decision to maintain sanctions against Russian businessman and oil magnate Yevgeny Shvilder, signaling an ongoing, firm stance against oligarchs tied to Russia amid the ongoing conflict in Ukraine.
On July 29, the UK's Supreme Court decisively dismissed the billionaire’s appeal against sanctions imposed due to his close ties with Russia and Russian business interests.
The case drew significant international attention and highlighted that the pressure of sanctions in response to Russia's invasion of Ukraine remains strict and unwavering.
Details of the ruling reveal that the sanctions were introduced in March 2022 due to Shvilder’s links with former Chelsea owner Roman Abramovich, as well as his former position as director of the Russian steel producer Evraz.
The billionaire attempted to challenge these restrictions, claiming they destroyed his business and adversely affected his and his family’s lives, while noting that not all Russian billionaires are subject to restrictions in Britain.
However, the court concluded that there is a rational connection between the sanctions and their purpose — to exert pressure on Russia and its elites for its military aggression.
On the same day, the UK court also rejected the appeal of Russian businessman Sergey Naumenko, whose €44 million yacht was seized in London.
Meanwhile, preparations continue for potential legal actions against another prominent Russian oligarch, Roman Abramovich, particularly regarding the transfer of $3.2 billion from the sale of Chelsea for humanitarian aid in Ukraine.
These judicial decisions underline the escalating international efforts to pressure Russian wealthy individuals and entities, aiming to weaken Russia’s economic capacity for military expansion.