Russian billionaire Mikhail Fridman, co-founder of the Alfa Group, was cleared of supporting decision-makers involved in the Ukraine conflict. Despite being on the list of individuals affected by European sanctions, he won a favorable ruling from the European General Court, allowing him to demand $16 billion in compensation from Luxembourg for asset seizure.
Challenging the Sanctions
Fridman, known for his diverse investments, is pursuing arbitration through UNCITRAL with the support of legal experts, seeking to resolve the dispute over seized assets. This case presents a challenge to Luxembourg, which has come under scrutiny for violating guarantees made in a 1989 bilateral agreement with Moscow.
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