In a judgment on appeal (joined cases C-702/23 and C-703/23) handed down on Friday, 1 August, the Court of Justice of the European Union has dismissed the appeals that the Timchenkos brought against the General Court’s September 2023 judgments (joined cases T-270/22 and T-272/22) that approved the European sanctions targeting the couple for supporting actions taken by Russia that undermine Ukraine’s sovereignty.
First of all, the court holds that the General Court validly concluded that the restrictive measures taken against Mr Timchenko were justified. This Russian oligarch could not be unaware that Bank Rossiya, of which he is the second-largest shareholder, provides financial support to the Russian decision-makers responsible for the annexation of Crimea and the destabilisation of Ukraine.
As regards Mrs Timchenko, the General Court justifiably considered her to be ‘associated’ with her husband given the existence of interrelated common interests—Mrs Timchenko being involved in the activities of the Timchenko Foundation.
See the Court of Justice’s judgment: https://aeur.eu/f/i3j (Original version in French by Mathieu Bion)