Overview

• The EU General Court ruled there was not enough evidence to support the sanctions against Mikhail Fridman and Petr Aven, major shareholders of Alfa Group.
• This ruling applies to their inclusion on the EU's sanctions list from February 2022 to March 2023, although they remain under sanctions due to a recent extension.
• The decision marks a significant legal setback for the EU's efforts to penalize individuals associated with the Russian government over the Ukraine conflict.
• Critics argue the court's ruling could undermine the integrity of the EU's sanctions regime against Russia.
• The court's decision can be appealed at the European Court of Justice, indicating that the legal battle may continue.