Russian Billionaire Challenges Sanctions Listing in Australian Court

Alexander Abramov, co-founder of Russian steel company Evraz, filed a case at the Federal Court of Australia challenging his placement on Australia's Russia sanctions list, The Guardian reported this month. Abramov lives in Switzerland, has made an estimated $6 billion from the Russian steel industry and was sanctioned by Australia in April. Counsel for Abramov told The Guardian that the billionaire "doesn’t satisfy the definition of a person who should be on the sanctions list" since he does not have the "requisite influence" on the Russian regime to qualify as a sanctioned individual. Abramov does not have business in Australia, but he does reportedly own property in New Zealand.