EU Court Upholds Asset Freeze on Russian Tycoon Deripaska

The General Court of the European Union has dismissed in full the action brought by Russian businessman Oleg Vladimirovich Deripaska against the EU asset-freezing measures imposed on him in connection with Russia’s war on Ukraine. In its judgment of 8 July 2026 in Case T-606/24, published in the Official Journal of the European Union on 24 August 2026, the Court upheld the continued validity of his listing under the restrictive measures regime.

The ruling confirms the application of the criterion set out in Article 2(1)(g) of Decision 2014/145/CFSP, which covers a “businessperson involved in economic sectors providing a substantial source of revenue to the Government of the Russian Federation”. The Court rejected all of the applicant’s pleas, including infringement of essential procedural requirements, error of assessment, breach of proportionality and interference with the right to property.

The contested measures

Mr Deripaska, resident in Khutor Sokolsky, Russia, sought the annulment of three successive rounds of Council acts that maintained his name on the list of persons subject to the freezing of funds and economic resources:

• Council Decision (CFSP) 2024/2456 and Council Implementing Regulation (EU) 2024/2455, both of 12 September 2024;
• Council Decision (CFSP) 2025/528 and Council Implementing Regulation (EU) 2025/527, both of 14 March 2025;
• Council Decision (CFSP) 2025/1895 and Council Implementing Regulation (EU) 2025/1894, both of 12 September 2025.

All of these acts amend the framework established by Decision 2014/145/CFSP and Regulation (EU) No 269/2014 concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine.

The Court’s decision

Acting under Article 263 TFEU, the applicant challenged the measures in so far as they concerned him. The Council of the European Union, represented by agents J. Rurarz and M.-C. Cadilhac, defended the listings. The case was heard in French.

The Court dismissed the action in its entirety and ordered Mr Deripaska to bear his own costs and to pay those incurred by the Council. The judgment confirms that the Council’s assessment of his role as a businessperson providing substantial revenue to the Russian Government remains valid and proportionate.

Relevance for readers

The ruling reinforces the legal standing of the EU’s sanctions architecture against Russian business figures linked to the war in Ukraine, setting a precedent for similar challenges. For companies and financial institutions subject to EU restrictive measures, the judgment confirms that the “substantial revenue” criterion can continue to justify asset freezes, and that listed persons remain bound by the obligations of the regime.

Source: Official Journal of the European Union, C/2026/4406, 24 August 2026, Information and Notices (official reference: CELEX C/2026/4406).