Russian Billionaire Shvidler Loses UK Supreme Court Bid Against Sanctions

Eugene Shvidler, a billionaire oil tycoon and British citizen associated with Roman Abramovich, has lost his latest appeal against UK sanctions imposed following Russia's invasion of Ukraine. The UK Supreme Court upheld the sanctions by a majority of four to one, emphasizing that such measures must be severe and open-ended to be effective in achieving foreign policy goals. Shvidler argued that the sanctions were arbitrary, selectively applied, and caused disproportionate hardship, but the court ruled they struck a fair balance between individual rights and the sanctions regime’s aims. The ruling also dismissed a related appeal by Russian businessman Sergei Naumenko, who challenged the seizure of his luxury yacht. The UK government has sanctioned over 1,700 individuals and entities linked to Russia since March 2022, maintaining a consistent legal defense of these measures. The decision marks a key test of the UK’s approach to targeting Russian oligarchs and their assets amid ongoing geopolitical tensions.