Millhouse CEO Yevgeny Shvidler was the first Russian businessman to challenge the sanctions in a London court


Billionaire and head of Millhouse investment company Yevgeny Shvidler, a close partner of Roman Abramovich, became the first Russian businessman to challenge the sanctions in a London court, said Bloomberg. Yevgeny Shvidler’s defense filed a lawsuit in February, believing that the British authorities made “significant errors” in assessing the businessman’s relationship with Roman Abramovich.

“The UK government did the wrong thing by imposing sanctions on me,” Mr Shvidler said in a statement. “I hope that the British courts will agree and give me back justice.”

The businessman’s lawyer, Michael O’Kane of Peters and Peters, argues that the imposition of sanctions by the UK government is disproportionate to the influence Yevgeny Shvidler has on Russian politics. “He cannot influence the policy of the Russian government in Ukraine, which should be the target of these sanctions,” the defense argues.

Roman Abramovich came under British sanctions at the beginning of March 2022, Yevgeny Shvidler at the end of March. The British authorities considered that Mr. Shvidler maintained “close relations for decades” with Roman Abramovich and benefited from their connections. However, a few days later, Great Britain eased sanctions against him: in particular, transport sanctions were lifted, which threatened to detain Yevgeny Shvidler’s yachts and planes.

In conversation with Forbes an unnamed “ally” of Yevgeny Shvidler said that the businessman “is not and never was a citizen of the Russian Federation.” Yevgeny Shvidler was born in Ufa, but according to Forbes, “technically he never had a Russian passport.” In 1994, he became a US citizen, and in 2010, a British citizen.

In the late 1980s, Yevgeny Shvidler, together with Roman Abramovich, traded toys for some time through the Uyut cooperative. From 1998 to 2005 Evgeny Shvidler headed Sibneft. In addition, he oversaw the mining area in Roman Abramovich’s team, in particular, shares in Evraz and Highland Gold. Last year Forbes estimated the fortune of the 58-year-old businessman at $ 1.6 billion.

Anastasia Larina


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