Son of Russian oligarch Pumpyansky gets European sanctions lifted

The EU court has removed the son of Russian billionaire Dmitry Pumpyansky from the European sanctions list.

Although not directly involved in the war against Ukraine, Mr. Pumpyansky is active in sectors of the economy that are an important source of revenue for the Russian government.

Now, Pumpyansky Jr. has been removed from the EU sanctions list, but he has been denied compensation for moral damages. The EU Council has to pay only legal costs, Forbes notes.

Immediately after the sanctions were imposed, Alexander Pumpyansky also resigned from the management of Sinara Group and TMK.

The EU Council failed to convincingly prove that the plaintiff maintains ties with his father and the companies in question, the EU court ruled. He can no longer be considered an individual who "provides material or financial support to the government of the Russian Federation," the court said.

Pumpyansky Jr, a Swiss citizen, complained to the Swiss newspaper Blick last summer that he could not service his mortgage or even buy groceries because of the sanctions, and that his phone was disconnected by the mobile operator Swisscom.

The EU imposed sanctions on his father in March 2022, shortly after the Russian invasion of Ukraine began. After that, the billionaire ceased to be a beneficiary of TMK and, together with his son, resigned from its board of directors.

Background. As reported, Friedman's business partner lost a lawsuit against the European Union challenging the sanctions.