The European Court of Common Pleas is currently holding hearings regarding Alisher Usmanov's lawsuit seeking the removal of sanctions imposed on him, as reported by Fortune.
The billionaire contends that the sanctions, imposed against him last year, are unjust and unreasonable. Usmanov's legal team argues that European authorities singled out the businessman as a "high-profile" target for sanctions due to his wealth and fame.
Jerome Grand d'Esnon, one of Usmanov's lawyers, stated, "He is rich, very rich, and famous. These are the reasons for the sanctions. Obviously, these are not legitimate grounds for imposing restrictive measures."
The lawyer emphasized that Usmanov is renowned not only as one of Russia's wealthiest individuals but also as a former co-owner of the English football club, Arsenal. Additionally, he possesses one of the world's largest private yachts.
Usmanov became subject to Western sanctions in 2022, shortly after the eruption of hostilities between Russia and Ukraine. He filed a lawsuit in the EU court to challenge the sanctions, citing potential bankruptcy threats to his USM companies.
Hungary initially demanded Usmanov's removal from the sanctions list but later retracted its request. In November, media reports claimed that the Uzbekistan government had purportedly urged the EU to lift sanctions against the billionaire and offered him legal support.
In September 2022, the EU lifted restrictions on Usmanov's sister, Saodat Nurzieva. However, she, along with several other family members, remains under US sanctions. Usmanov's USM holding company was added to the US and British sanctions lists. The US Treasury also imposed sanctions on its subsidiaries, including Akhangarancement, although certain licenses were granted to some of them for continued operation.
Earlier this year, Usmanov expressed his intention to step back from business management. Despite the sanctions, he has repeatedly stated his focus on Uzbekistan's development.
Cyprus is reportedly launching an investigation into firms associated with Alisher Usmanov.
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