Against the confiscation of villas and yachts: Russian billionaires went to court through EU Ultimatum

One of the applicants businessman Gennady Timchenko is Vladimir Putin's close friend. According to the entrepreneur's lawyers, the EU demands to declare its assets in Europe, intending to confiscate them. The co-owners of Alfa-Bank Mikhail Friedman, Petro Aven, Herman Khan, as well as Russian billionaire Gennady Timchenko and his wife have filed lawsuits against the European Court of Justice in Luxembourg.

Billionaires intend to challenge the EU's request, according to which they are obliged to declare their property in Europe for six weeks, Bloomberg writes. Gennady Timchenko's lawyers claim that the European Union authorities oblige entrepreneurs to make such a short time in order to confiscate their property in the future. The source states that the violation of the terms granted to the declaration of property is regarded by the EU authorities as a violation of the sanction regime.

One of the European officials in a comment by Bloomberg noted that in the event of late declaration of assets, the court could really institute a criminal case with the subsequent seizure of unregistered property. Timchenko's representatives in court stated that such restrictions are not reflected in the effectiveness of sanctions. Recall that according to Bloomberg, with the beginning of a full -scale war in Ukraine the general condition of Russian billionaires has declined rapidly.

The owner of the gas company "Novatek" Gennadiy Tymchenko and the owner of the petrochemical holding "Sibura" Leonid Michelson. By June 2022, their condition decreased by $ 7. 06 and $ 6. 65 billion. Focus also wrote that the United States had imposed sanctions against Russian businessman Vladimir Potanin. Thus, among the first ten richest people of the Russian Federation, only businessman Mikhail Prokhorov did not get under sanctions.