At least two Russian businessmen are reportedly looking into the case of Mikhail Friedman, hoping to use it as a precedent to contest European Union sanctions against them. According to reports, legal expert Sergey Glandin, who specializes in sanctions law, suggests that Friedman’s situation could serve as a “roadmap” for others facing similar challenges. He indicated that investment arbitration might prompt governments to negotiate or even lead to the removal of individuals from sanctions lists.
Conversely, some Russian billionaires are concerned that the EU’s decision regarding Friedman and Usmanov could backfire, intensifying pressure on Russian businesses still operating in Europe.
Context
- On September 14, the EU extended its sanctions regime for seven days until midnight on September 22, due to positions taken by Slovakia and France, which advocated for the removal of Friedman and Usmanov from the sanctions list. On the evening of September 22, the EU Council decided to maintain sanctions against over 3,000 individuals and entities but opted not to renew them for three individuals, including Friedman and Usmanov, as well as one organization. An Irish EU Council spokesperson explained that this decision required Europeans to make a “difficult compromise.”
