EU General Court Annuls Decisions Sanctioning Former EuroChem CEO

The EU General Court last week annulled three European Council decisions sanctioning Vladimir Rashevsky, former CEO and director of mineral fertilizer giant EuroChem. The court didn't consider the most recent listing decision imposing sanctions on Rashevsky.

The Russian national was originally listed in 2022 for three reasons: working to undermine the sovereignty of Ukraine, supporting or benefiting from the Russian government, and working as a leading businessperson in a sector providing the Russian government with substantial revenue.

Central to the court's decision, Rashevsky resigned from his roles as CEO and director in March 2022. The businessperson also previously worked as CEO of coal company JSC SUEK during 2004-2020. In later listing decisions, the council said, despite his resignations, Rashevsky continued to influence EuroChem and JSC SUEK via shell companies.

The court said the council failed to provide a "body of sufficiently specific, precise and consistent evidence" to meet any of the three listing criteria. The decision additionally said Rashevsky's position on the boards of the Russian Union of Industrialists and Entrepreneurs, the Committee on Climate Policy and the Coordination Council for the Siberian District didn't make him a leading businessperson in Russia.