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AP-National

2 Russian businessmen linked to Alfa Group win court case over EU sanctions

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Published 3:38 AM

By SAMUEL PETREQUIN
Associated Press

BRUSSELS (AP) — Russian businessmen Mikhail Fridman and Petr Aven won a court case Wednesday over a European Union decision to sanction them for their alleged role in Russia’s war against Ukraine. The EU General Court said a lack of evidence justified their removal from a list of persons who faced restrictive measures between February 2022 and March 2023. Fridman is a founder of Alfa Group and ranks as one of Russia’s wealthiest tycoons. The group’s Alfa Bank, Russia’s largest non-state bank, was sanctioned by the EU in March 2022, prompting Fridman to leave the board to try to help the bank skirt sanctions. Aven headed Alfa Bank until March 2022, but like Fridman left the board after the EU sanctions.

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