EU Court of Justice upholds sanctions against Russia's NSD and oligarchs, denies appeal to unfreeze €70B assets amid Ukraine conflict.

The EU's Court of Justice has upheld sanctions against Russia's National Settlement Depository (NSD) and several oligarchs, including Gennady Timchenko and Mikhail Fridman, due to their ties to the Kremlin amid the Ukraine conflict. The NSD's appeal to unfreeze €70 billion in assets was denied, with the court stating it failed to prove its importance to the Russian economy. This ruling may enhance the EU's ability to utilize frozen assets for financial support to Ukraine.

September 11, 2024
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