Russian and Belarusian oligarchs want their money back. Bild newspaper reported that 61 cases of people and companies that are currently sanctioned in Luxembourg are pending.
For example, according to documents found on the court’s website, two oligarchs, Grigory Bereskin and Gennady Timchenko, are allegedly seeking compensation for “immaterial damage.”
‘Reputation seriously damaged’
Bereskin claims that his “reputation has been severely damaged” and that he has no connection whatsoever with events in Ukraine. He also does not support the government of the Russian Federation. It seems that he is symbolically demanding one euro for compensation for moral damage.
Timchenko, who lives in Switzerland and plays ice hockey with Kremlin boss Vladimir Putin, is seeking compensation of 1 million euros from the EU. In his case, he accuses the EU of making a blatant mistake in its assessment of the “relationship between the claimant and President Putin”.
In addition, it cites, among other things, “violation of the right to effective judicial protection and the obligation to give reasons” and “violation of the principle of proportionality and fundamental rights” as further grounds of action.
Abramovich also complains
According to court documents, the list of plaintiffs in Luxembourg includes other oligarchs known in the West, including Roman Abramovich, former owner of English football club Chelsea FC, and Mikhail Fridman, founder and director of major financial group Alfa-Group. .
Like Timchenko, Abramovich is demanding one million euros “for compensation for the non-pecuniary damage caused”. In the event of a conviction by the EU, the amount will go to a charitable foundation set up as part of the sale of Chelsea FC for the benefit of war victims.
Alisher Usmanow, the oligarch known in Germany, also filed a complaint.
A large-scale raid by the investigative and tax authorities caused confusion at his adopted home in Rottach-Egern, Bavaria. Usmanov had tried to be removed from the EU sanctions list with an urgent decision. But the head of the competent court of the European Union refused. (SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
