Former petroleum businessman and close partner of Abramovich, Yevgeny Shvidler, has lost his sanctions case in the UK court

On 18 August, in the High Court of London, billionaire Yevgeny Shvidler lost his attempt to dispute the sanctions on his assets, including 2 private jets. The court publicly confiscated the planes and handed them over to the UK Secretary of State for Transport as part of a demonstration of tough measures against Russian oligarchs and those involved in the war in Ukraine. The Government commented that if such a decision continues to be approved, it would make it almost impossible for any person sanctioned by the Foreign Secretary to appeal against the sanctions. 

The British court cited Schwedler's position as a director of Evraz, a London-based steel company, and his links to Sibneft, a Russian oil company that was sold to Abramovich in 2005. After the ruling, Schwidler's lawyer Michael O'Kane said that his client would continue to appeal the confiscation. They do not consider the partnership with Abramovich to be a sufficient cause for the imposition of sanctions. 

We would like to remind you that Schwidler's lawsuit to freeze his assets is the first case to be brought before the UK High Court by a private individual and has challenged the UK sanctions policy. The owners of the sanctioned assets are trying their best to find grounds to challenge such decisions in court, including Abramovich, who is separately challenging the EU sanctions. 

Source: Reuters