The Court of Justice of the European Union refused to lift sanctions against businessman Viatcheslav Moshe Kantor, the former owner of more than 94% of shares in the producer of mineral fertilizers Akron.
Viatcheslav Moshe Kantor, who holds Russian and Israeli citizenship, was included in the EU sanctions list in 2022. The justification for the sanction stated that Kantor “is responsible for material or financial support for actions that undermine or threaten the territorial integrity, sovereignty and independence of Ukraine,” and that “Kantor is a Russian oligarch who is a major shareholder in the Akron Group, one of the largest Russian fertilizer producers. He has close ties with President Vladimir Putin.”
In the Court of Justice of the European Union, lawyers for Viatcheslav Kantor presented a letter in his support, signed by 42 representatives from various Jewish communities.
The businessman stated that he was not a shareholder of Akron, but the company was owned by an independent entity. At best, he could only be considered the beneficiary of a trust that ultimately owns Akron.
In addition, Kantor clarified that he has devoted the last 20 years to philanthropic activities, is not part of the Russian business community and has never been invited to round tables organized by President Putin.
However, the Court of Justice of the European Union considered that it follows from the documents on the structure of the Akron Group that almost all shares of PJSC Akron and its subsidiaries (together forming the Akron Group) belong through three intermediary companies to an organization whose beneficial owner was Viatcheslav Kantor and his three minor children.
