The Court of Justice of the European Union has annulled the acts that maintained Russian former Formula 1 driver Nikita Mazepin on sanctions lists.
In 2021, Nikita Mazepin drove for the Haas F1 team. Meanwhile, his father, Dmitry Mazepin, was the major sponsor through companies with which he was linked, of his son’s F1 racing activities.
Dmitry Mazepin was an owner and CEO of Uralchem. Established in 2007, Uralchem is one of the world’s largest producers and exporters of nitrogen, potash and complex fertilisers. In Russia, the Company is the biggest domestic producer and supplier of ammonium nitrate and potash.
In March 2022, sold a controlling stake (52%) of his holding and resigned as the CEO of Uralchem JSC, which is a wholly owned subsidiary of the company.
Also in March 2022, Dmitry Mazepin sold a controlling stake (52%) from his holding and resigned from the position of the CEO of Uralchem JSC (which is a wholly-owned subsidiary of the Company).
“The association between Mr Nikita Mazepin and his father is in no way established from an economic or capital perspective or by the existence of common interests linking them at the time when the maintaining acts were adopted“. – stressed the Court of Justice.
