A European Union court on Wednesday annulled EU sanctions on two Russian businessmen, Petr Aven and Mikhail Fridman.
The ruling by the European General Court applies to sanctions imposed on the two men between February 2022 and March 2023 for their connection to Russian President Vladimir Putin and the full-scale invasion of Ukraine.
EU member states failed to provide sufficient evidence to justify their decision to target both men with an asset freeze, a statement from the Luxembourg-based court said.
EU countries had argued that both men, as shareholders of the Alfa Group - a conglomerate including Alfa Bank, one of Russia’s major banks - provided financial support to Russian officials who were behind the attack on Ukraine.
