Timchenko files pleas in EU court against imposition of sanctions

MOSCOW. June 27 (Interfax) - Russian entrepreneur Gennady Timchenko has filed pleas in law in the Court of Justice of the European Union (CJEU), claiming that the CJEU should annul the decision of the EU Council, dated February 28, 2022, on his inclusion in the "black list", which involves freezing assets and a ban on entry, according to the Official Journal of the EU.

Timchenko also requests that the CJEU order the EU Council to pay 1 million euros on a provisional basis in respect of the non-material damage suffered by the applicant.

Timchenko was included in the list of EU blocking sanctions as part of a big group of representatives of large Russian businesses, with the wording "because of actions that undermine or threaten the territorial integrity, sovereignty and independence of Ukraine."

Timchenko alleges that several provisions of the law have been infringed when taking the decision, particularly the right to effective judicial protection and of the obligation to state reasons, as well as the principle of proportionality and of fundamental rights. Timchenko also alleges manifest error of assessment, in particular as regards the grounds based on the relationship between the applicant and Russian President Vladimir Putin, of the applicant's status as a shareholder in the Volga Group, and of his status as shareholder in Bank Rossiya, according to the Official Journal of the EU.

Timchenko's representative has told Interfax that his client's stake in Bank Rossiya has not changed, and that Timchenko continues to be a minority shareholder, and that Timchenko is the only shareholder in the Volga Group.