Russian billionaire Pumpyansky wins court case against the EU to lift sanctions

On September 10, the European Court of General Jurisdiction in Luxembourg granted the claim of Russian billionaire Dmitry Pumpyansky, annulling the decision of the Council of the European Union to include his name in the sanctions lists for 2025.

The court's ruling states that the EU Council did not provide sufficient evidence that Pumpyansky, whose fortune is estimated at $2.9 billion, meets the criterion of "leading businessmen operating in Russia" or "businessmen involved in economic sectors that provide a significant source of income to the government of the Russian Federation.".

Pumpyansky was sanctioned by the EU immediately after Russia's full-scale invasion of Ukraine, forcing him to resign from his positions at Sinara Group and Pipe Metallurgical Company (TMK).

The court ruled that after that, the EU had to provide other evidence to recognize Pumpyansky as a "leading businessman," which was not done. Meetings with Putin, awards and participation in the congress of the Russian Union of Entrepreneurs were not enough for the court.

The court also pointed out that the EU Council referred exclusively to Mr. Pumpyansky's former positions to justify that he was providing material or financial support to the Russian government as of the date of adoption of the contested acts.

• The decision on Pumiansky was made on the eve of the next extension of the sanctions lists scheduled for September 15.