EU General Court Annuls Sanctions Listing of Russian Businessperson
The EU General Court on May 29 annulled the European Council's sanctions designation of Russian businessperson Farkhad Akhmedov, founder of Russian gas equipment supplier Tansley Trading and minority shareholder of Northgas. The court said that the council "made an error of assessment" in sanctioning Akhmedov "by considering that the applicant was a leading businessperson involved in economic sectors which provided a substantial source of revenue to" the Russian government.
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The court said the council failed to present evidence showing that Akhmedov was a leading businessperson in a key sector of the Russian economy during the time he was listed. For instance, the record shows that Tansley Trading changed its name in 1994, then was dissolved in 1999, and that Akhmedov sold all of his shares in Northgas in 2012, the court said.
The court added that the council's decision to maintain Akhmedov's listing was also void. In maintaining his designation, the council pointed to the man's ties to lumber company Udan and information technology firm Avigal. In response, Akhmedov said Udan "has not yet generated any turnover" and that Avigal is a start-up, which similarly doesn't have any turnover. The court said the council failed to prove that Udan and Avigal are relevant in their respective sectors, which means Akhmedov couldn't be considered a leading businessperson in Russia.