European Court lifts sanctions against Russian oligarch Pumpyansky
Earlier, the billionaire's son Alexander also succeeded in having sanctions against him lifted in court
The European Court of General Jurisdiction in Luxembourg has upheld a lawsuit filed by Russian billionaire Dmitry Pumpyansky and his wife seeking to lift the EU sanctions imposed on them.
The court overturned the decision of the EU Council of 14 September 2022, ordering them to pay the legal costs of challenging the sanctions. The ruling is published on the court's website.
"The claim of Mr Dmytro Pumpyansky and Ms Galyna Pumpyanska against the EU Council has been satisfied in full," the court said.
According to the commentary, the court ruled to cancel not only the decision of September 2022, but also the extension of sanctions measures in 2023.
On 6 September 2023, the same European Court of General Jurisdiction dismissed the claims of Pumpyansky and other Russian billionaires, Bloomberg reported.
At the same time, the claims of Pumpyansky's wife and son were dismissed.
However, at the end of November, the billionaire's son, Alexander Pumpyansky, reportedly succeeded in having the sanctions against him lifted.
Pumpyansky Sr. is the founder of the Pipe Metallurgical Company (TMK) and is ranked 42nd in the Forbes ranking with a net worth of $3.3 billion.
After the EU sanctions were imposed, he ceased to be a beneficiary of TMK and resigned from the company's board of directors together with his son.
Pumpyansky's yacht was arrested in Gibraltar and sold at auction for $37.5 million in September 2022, Forbes reports.
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