EU Court of Justice begins hearings on RDIF's claim against sanctions
A decision on the lawsuit is expected in a couple of months.
Hearings on the claim of the Russian Direct Investment Fund (RDIF) against sanctions imposed by the EU Council due to the conflict in Ukraine began in the European Court in Luxembourg. The court's decision is expected in a couple of months, the court’s press service told TASS.
As stated in the document of the EU Court of Justice on the claim, RDIF emphasized that the EU Council violated the rights of the fund. In addition, the plaintiff believes that the EU Council did not have a sufficiently strong factual basis for applying restrictive measures against the Russian fund. Finally, the plaintiff pointed out that the EU Council never provided a justification for the adoption of restrictive measures and did not give the opportunity to raise objections. The plaintiff emphasized that the sanctions violate the fundamental right of RDIF to do business, guaranteed by the Charter of Fundamental Rights of the EU.
The European Union introduced sanctions against RDIF in March 2022. The EU has banned co-investment with RDIF, exceptions may be made under agreements made before March 2, 2022.
Source
Hearings on the claim of the Russian Direct Investment Fund (RDIF) against sanctions imposed by the EU Council due to the conflict in Ukraine began in the European Court in Luxembourg. The court's decision is expected in a couple of months, the court’s press service told TASS.
As stated in the document of the EU Court of Justice on the claim, RDIF emphasized that the EU Council violated the rights of the fund. In addition, the plaintiff believes that the EU Council did not have a sufficiently strong factual basis for applying restrictive measures against the Russian fund. Finally, the plaintiff pointed out that the EU Council never provided a justification for the adoption of restrictive measures and did not give the opportunity to raise objections. The plaintiff emphasized that the sanctions violate the fundamental right of RDIF to do business, guaranteed by the Charter of Fundamental Rights of the EU.
The European Union introduced sanctions against RDIF in March 2022. The EU has banned co-investment with RDIF, exceptions may be made under agreements made before March 2, 2022.
Source