SAWT BEIRUT INTERNATIONAL

| 29 February 2024, Thursday |

Son of Russian oligarch Pumpyansky wins appeal against EU sanctions

The European Union’s court stated on Wednesday that Alexander Pumpyansky, the son of Russian businessman Dmitry Pumpyansky, has successfully appealed against the sanctions imposed by the EU due to Russia’s invasion of Ukraine.

According to the court’s decision, Pumpyansky was placed on the sanctions list because the EU council acknowledged that he was no longer president and board member of Sinara or TMK as of March 9, 2022, six months prior to the first round of sanctions and two weeks after the invasion of Ukraine.

The ruling from the European Union General Court – the first instance of the Luxembourg-based Court of Justice of the EU (CJEU) – said Pumpyansky must be taken off the sanctions list. It rejected Pumpyansky’s claim for damages.

A court official said the EU now had two months to appeal the ruling before the CJEU’s highest authority.

Steel pipe manufacturer OAO TMK is a supplier to Russian energy company Gazprom. Sinara is Russian investment bank. The EU has said both firms support the Russian authorities and Russian state enterprises and benefit from that cooperation..

    Source:
  • Reuters