Gutseriev Challenges EU Sanctions for Ties to Lukashenko

Mikhail Gutseriev, an Ingush billionaire, won his case in the European Court of Justice. He challenged EU sanctions imposed against him in 2024 due to his ties to the Belarusian leadership. The court found that the Council of the European Union relied on outdated data in its decision.

Previously, the EU cited Gutseriev's business interests in Belarus, his personal acquaintance with Alexander Lukashenko, and his alleged benefit from this, as well as his support for the regime. Gutseriev countered that he has had no business interests in the country since June 2022, and that oil supplies by his companies in 2020 were carried out as part of commitments, not to support the regime. He is currently not active in that market.

However, the court's decision does not guarantee the automatic lifting of sanctions against the businessman. The Council of the EU has twice extended the sanctions since the initial decision of February 26, 2024.

Mikhail Gutseriev is the owner of the Safmar group of companies, as well as the oil companies RussNeft, Russian Coal, Neftisa, and the development company A101. According to Forbes, the Gutseriev family's net worth increased by $2.5 billion in the past year, reaching $7.2 billion, placing him 28th in the "146 Billionaires of Russia" ranking.

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