Oligarch close to Putin wins case in EU court over no longer valid sanctions

The Court of Justice of the EU has upheld a second complaint brought by Russian oligarch Dmitry Pumpyansky and his wife, Galina Pumpyanskaya, against EU sanctions. Source: European Pravda, citing court judgements regarding Pumpyansky and his wife Details: The General Court reversed a decision of the Council of the European Union dated 14 September 2022 on restrictive measures in connection with actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine, as well as further extensions of this ruling, insofar as it relates to the retention of Dmitry Pumpyansky's name on the list of individuals, legal entities and bodies subject to restrictive measures.

However, the court has not rescinded the initial decision on sanctions by the Council of the European Union dated 9 March 2022, nor the latest decision to extend restrictive measures of 14 March 2024, under which the oligarch is subject to sanctions.

The court ordered that the EU Council cover its own costs and pay the expenses incurred by Pumpyansky. A similar judgement was handed down in relation to the oligarch's wife.

Pumpyansky is the owner and chairman of the board of OJSC TMK, a steel pipe manufacturer for the oil and gas industry that supplies Russian state energy company Gazprom. He was sanctioned by the UK, EU and US after Russia's full-scale invasion of Ukraine.

The United Kingdom stated that the billionaire, whose wealth is estimated at GBP1.84 billion, is one of the oligarchs "closest to Putin". An earlier attempt at challenging the sanctions in the EU Court of Justice failed. In July 2022, Dmitry Pumpyansky's yacht Axioma, which had been seized in Gibraltar, was sold at auction for US£37.5 million.

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