In Britain, Abramovich's associate loses appeal against sanctions

This was reported by Reuters, according to Ukrinform.

Shvidler, whose fortune is estimated by Forbes magazine at $1.6 billion, appealed to the Supreme Court of the United Kingdom, claiming that British sanctions had destroyed his business and had a devastating impact on his life and that of his family. His lawyers also argued that not all billionaires with ties to russia were subject to restrictions in the UK.

However, the Supreme Court rejected Shvidler's appeal by four votes to one, ruling that there was a ‘rational connection’ between the sanctions and the aim of discouraging the billionaire from supporting the russian invasion and putting pressure on Abramovich.

The judges said the sanctions against Shvidler ‘send a clear signal to people in Shvidler's position that it would be wise to distance themselves from russian business.’

The High Court also rejected a separate appeal filed by russian businessman Sergei Naumenko, whose €44 million superyacht was seized in London.

As reported by Ukrinform, the United Kingdom included Shvidler on its sanctions list in March 2022 due to his ties to Abramovich and russian companies Sibneft and Evraz, as well as russia's full-scale invasion of Ukraine.

During the same period, Britain seized the superyacht Phi in its waters as part of sanctions against russia.

In February 2024, Shvidler also lost his appeal against the sanctions.

Source: Ukrinform, Reuters