European Justice Court confirms restrictive measures to ex vice premier Russo Shuvalov

The European Court of Justice confirms the restrictive measures adopted against Igor Shuvalov, former deputy prime minister of the Russian government. The appeal of Igor Shuvalov against the judgment of the court of February 7, 2024 was rejected. Between 2008 and 2018 Igor Shuvalov was deputy prime minister of the Russian government. From 24 May 2018 he became president of the Vnesheconombank (VEB.RF, a development bank and foreign trade, Russia). As a public financial institution, this bank implements the economic policy decided by the president of Russia and conducted by the government of the latter, it is learned.

In February 2022, believing that Shuvalov supported actions and policies that compromise territorial integrity, sovereignty and independence of Ukraine, the European Union Council included its name in the list of people subject to the restrictive measures adopted by the European Union. This has led, in particular, the freezing of his capital and its economic resources as well as the ban on entry and transit in the Union territory. In September 2022 and March 2023 the Council decided to extend the restrictive measures against him. The appeal of Shuvalov aimed at the cancellation of these documents of the Council, in the part in which they concern him, was rejected by the Court of the European Union. He therefore challenged the judgment of the Court before the Court of Justice. The Court rejects the appeal, thus confirming the judgment of the court.

The Court observes, in particular, that the Court did not commit any error of law declaring that the Council could be based on Shuvalov’s offices and public statements prior to the adoption of controversial documents. The Court also said correctly that, on the one hand, the Council had shown that Shuvalov supported actions or adverse policies to Ukraine and, on the other, that the documents in question had been sufficiently motivated. In addition, the Court has correctly declared that these documents do not affect the essential content of the right of ownership of Igor Shuvalov and that the limitation made by the restrictive measures to this right does not appear manifestly inadequate with respect to the objective they pursued.