Russian oligarch Abramovich loses third attempt to overturn EU sanctions
Court rules that sanctions imposed on the former Chelsea owner over his stakes in top Russian metal companies are both 'sufficiently precise and proportionate'
A top EU court on Wednesday rejected Russian billionaire Roman Abramovich’s third attempt to overturn sanctions against him over the war in Ukraine.
The former owner of Chelsea soccer club, who has close ties to the Kremlin, was added to the bloc’s asset freeze and visa ban blacklist in 2022 after Moscow’s invasion of its neighbor.
The EU’s General Court rejected Abramovich’s claims that the bloc was unfairly seeking to “exploit him on account of his public notoriety.”
It said that Abramovich, who has been an Israeli citizen since 2018 and a Portuguese citizen since 2021, was listed legally because he had stakes in metals giants Evraz and Norilsk Nickel, both of which provided “a substantial source of revenue” for the Russian government.
The ruling, which was published online, defended the sanctions as both “sufficiently precise and proportionate.”
“First, they specifically target leading businesspersons operating in Russia, in a context where the main economic operators have close ties to the State,” read the ruling. “Second, they target those acting in sectors which generate significant revenues for the Russian Government, by clearly referring to activities of non-negligible importance, which are sources of funding for that government’s actions and policies.”
Abramovich, the court said, “is, in fact, the majority shareholder in Evraz, which is the parent company of one of the leading Russian groups in the steel and mining sectors. He also owns shares in Norilsk Nickel, one of the world’s leading producers of palladium and a key operator in the market for refined nickel.”
“Those activities, which form part of the steel and mining industries, represent, moreover, a substantial source of revenue for the Russian Government,” the court added.
Abramovich, who had two previous cases rejected in 2023 and 2025, is among numerous Russian businessmen challenging EU sanctions.
The sanctions imposed on the Russian oligarch mean that his assets — including superyachts and mansions — can be seized and entry into the EU bloc refused. He can still enter Portugal, however, due to his citizenship.
Abramovich amassed a fortune in Russia’s oil and aluminum industries following the 1991 breakup of the Soviet Union. In 2005, Russian state-owned energy giant Gazprom paid $13 billion for the Sibneft oil company controlled by Abramovich, allowing Putin’s Kremlin to recapture state influence in the lucrative energy industry.
His net worth has fallen dramatically since the start of Russia’s war against Ukraine. In 2021, he was the 142nd richest person in the world, according to Forbes, but today he comes in at 395th.
Times of Israel staff contributed to this report.