On March 26, the European Court of Justice rejected the appeal (case C-696/23 P) of Russian businessman Dmitry Pumpyanskiy (former owner of the Trubnaya Metallurgical Company. TMK is an industrial engineering company and leading supplier of tubular solutions, structural materials, and related services. The company manufactures steel pipes, pipeline systems, and other products for the oil and gas, energy, chemical, mechanical engineering and construction industries).
Pumpyanskiy, whose net worth was estimated by Forbes at $2.9 billion, filed an appeal to overturn the court’s decision of September 6, 2023 (case T-270/22), which had denied the businessman’s request to lift the sanctions.
However, Pumpyanskiy had previously won in the EU court, but only succeeded in obtaining the lifting of certain sanctions extensions. Pumpyanskiy was sanctioned by the EU on March 9, 2022, for being involved in an economic sector that provides a significant source of income for the Russian government, which is responsible for the annexation of Crimea and the destabilization of Ukraine.
On March 26, the EU Court not only rejected the appeal of Russian billionaire Dmitry Pumpyanskiy but also combined his case with those of other businessmen who had filed appeals, and rejected all of them. These included the appeals of Tigran Khudaverdyan, the former CEO of the Russian search engine Yandex, Viktor Rashnikov, the owner of the Magnitogorsk Metallurgical Plant, Dmitry Mazepin, the former owner and CEO of the United Chemical Company Uralchem, and German Khan, a billionaire.
