Yandex founder Arkadi Volosh removed from EU sanctions list
Vienna (OTS) – With Implementing Regulation (EU) 2024/849 of March 12, 2024, the Council of the European Union removed the well-known Russian-Israeli entrepreneur Arkady Volozh from the sanctions list.
Arkadi Volosch has filed a lawsuit against the EU sanctions at the Court of the European Union (EC) in Luxembourg. Based on the course of the negotiations in Luxembourg last December, the Council’s lawyers understood that the sanction had no legal basis.
The Council of the EU followed this insight and had Mr Wolosch removed from the sanctions list of around 2,000 natural and legal persons. The founder of the well-known IT group Yandex, who has lived in Israel since 2014, is the first well-known businessman to be exempt from the Russia-related EU sanctions.
The international business law firm Lansky, Ganzger, Goeth + partner (LGP), together with the law firms Aquis Law and Policy and WJ Avocats, represented Mr. Wolosch before the General Court of the European Union.
LGP Managing Partner Gabriel Lansky on the EU’s decision: “This signal from the European Union is important. Sanctions are the atomic bombs of European law: They should only be used where they can undoubtedly reach the right people.”
“It is good to see that the Council of the Union has at least seen that the sanction is not only unfounded and pointless, but is even detrimental to the Union,” adds LGP Managing Partner Philip Goeth.
Questions & Contact:
Philipp.freund@lansky.at
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