EU to Lift Sanctions on Three Russian Businessmen: Inside the Decision

• Financial

In a significant diplomatic move, Brussels has made the unexpected decision not to extend the sanctions currently placed on three high-profile Russian businessmen. According to confidential sources within the European Union, this decision will take effect as soon as the current sanctions run their course on September 15.

Sanctions on Shulgin Lifted After Court Decision

The case of Alexander Shulgin, the former executive director of the online retail giant Ozon, has arguably attracted the most attention. Recent reports by Reuters highlighted that the Court of the European Union opted to terminate the sanctions placed upon Shulgin, following his participation in a meeting with Russian President Vladimir Putin.

This controversy led to his resignation from Ozon. Notably, Shulgin has secured his place in history as the first Russian businessman for whom the EU was obligated to revoke sanctions due to a court verdict.

Legal Battles and Contentions

Grigory Berezkin is yet another prominent figure on the sanctions list.

The EU imposed restrictions on Berezkin for undisclosed reasons, potentially tying him to the events in Ukraine. Determined to challenge this, Berezkin took his case to the Court of Justice of the EU. In his lawsuit, he firmly stated that the sanctions were unlawful and that he held no connections whatsoever to the aforementioned Ukrainian events.

Farhad Akhmetov, the billionaire in question, found his name alongside Berezkin's on the sanctions list. The EU’s justification for these sanctions implies both businessmen play significant roles in sectors crucial to Russia’s economy.

The details surrounding Akhmetov's case, however, remain less clear than those of his counterparts.

An Evolving Stance or A One-off Decision?

This move by Brussels signals a potential shift in EU-Russian relations, or at the very least, a reconsideration of the EU’s approach to sanctions.

While the reasons for these changes are multifaceted and still unfolding, they underscore the complex interplay of politics, law, and international relations.