September 22, 2023 4:33 am

Landmark decision by EU’s top court on Russian sanctions: RT Business News

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In a historic ruling, the European Union’s Court of Justice has lifted sanctions imposed on Aleksandr Shulgin, a Russian businessman. Shulgin, the former head of Russian e-commerce firm Ozon, had been included in a blacklist in April 2022 as part of the EU’s sanctions against Moscow following its military operation in Ukraine.

What makes this ruling significant is that it is the first time the EU has lifted sanctions against a Russian businessman through a court decision. Previously, such decisions were only made in relation to their sanctioned relatives.

“The effect of decision 2023/572 remains in relation to Shulgin until the expiration date for filing an appeal or until it is rejected,” stated the court. It added that “the rest of the appeal is dismissed.”

The EU had targeted Shulgin as a “leading businessman” and CEO of a company that “provided a significant source of income” for the Russian government. The bloc also pointed out that Shulgin had met with President Vladimir Putin in the Kremlin on the day Moscow initiated its military operation in Ukraine.

However, just three days after the sanctions were introduced, Shulgin stepped down as Ozon’s chief executive and resigned from the company’s board of directors. He has been attempting to legally challenge the notion that he is a “leading businessman.”

Experts believe that Shulgin’s departure from Ozon played a decisive role in the European court’s decision to lift the restrictions. This case is expected to set a precedent for the numerous EU sanctions affecting Russian citizens.

The EU has imposed sanctions on nearly 1,800 individuals and entities as part of its anti-Russia policy. Recently, the bloc has targeted what it vaguely describes as “leading” businesspeople, along with their families and friends.

This ruling marks a significant development in the ongoing tensions between the EU and Russia. It demonstrates that the court is willing to review and potentially overturn sanctions imposed on individuals, even in cases involving Russian businessmen.

The lifting of sanctions against Shulgin raises questions about the effectiveness and legitimacy of the EU’s sanctions policy. Critics argue that such measures can have unintended consequences and may not effectively address the complex geopolitical issues at hand.

As the EU continues to grapple with its approach to Russia, cases like Shulgin’s will shape the future of its sanctions regime. This ruling serves as a reminder that even in matters of national security and international relations, legal avenues can provide a means for individuals to challenge the decisions of powerful institutions.

It remains to be seen whether this ruling will lead to a reevaluation of the EU’s sanctions policy towards Russia or if it will remain an isolated incident. In any case, it highlights the importance of the judiciary in safeguarding fundamental rights and ensuring that decisions are based on solid evidence and legal principles.

For more stories on economy & finance visit RT’s business section.

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Original Source: Landmark decision by EU’s top court on Russian sanctions: RT Business News

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