An EU court has annulled the inclusion of billionaires Mikhail Fridman and Petr Aven in the list of sanctions by the European Council.
The General Court argued the council did not present enough evidence to show the billionaires were involved in efforts to undermine Ukraine, setting potential precedent for other appeals.
Rulings by the General Court can be appealed to the EU’s higher court, the European Court of Justice.
Born in Ukraine, Fridman made millions in oil, telecoms, banking and retail in Russia before his arrival in London nearly a decade ago.
Aven is a Russian former academic, politician and businessman who as of last February was worth £4.5bn.
Source: The Financial
