Sanctioned Billionaires Sue After EU Ultimatum to Declare Their Luxury Villas
- EU gave sanctioned individuals six weeks to list all assets
- Fridman, Aven, Khan and Timchenko brought cases to complain
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A group of sanctioned Russian billionaires, including Mikhail Fridman and Petr Aven, have picked a fight with the European Union — challenging an order to declare all their assets from luxury villas to bank accounts within six weeks or face prosecution.
The lawsuits at the EU’s General Court follow a July ultimatum from the bloc to individuals targeted by an asset freeze following the Kremlin-led invasion of Ukraine. Fridman and Aven sued along with co-founder of investment firm LetterOne Holdings, German Khan. A separate lawsuit has been lodged by Gennady Timchenko and his wife.