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By Michael Holden
LONDON, Aug 18 (Reuters) - A billionaire ally of Russian businessman Roman Abramovich on Friday lost his attempt at London's High Court to overturn British sanctions imposed on him after Russia's invasion of Ukraine.
Oil tycoon Eugene Shvidler, whose net worth is estimated by Forbes magazine at $1.6 billion, was sanctioned in March 2022 on the grounds of his association with former Chelsea Football Club owner Abramovich. His two private jets were also seized.
"In my view, it cannot properly be said that the Secretary of State has failed to strike a fair balance between the rights of Mr Shvidler and his family and the interests of the community," the judge Neil Garnham said in his ruling as he dismissed Shvidler's challenge.
The case is the first substantive challenge to British sanctions imposed following Russia's invasion.
Western governments have sanctioned a raft of people and businesses over their alleged connections to Russian President Vladimir Putin and the Russian government, prompting legal challenges from those who say they have been unfairly targeted.
Britain alone has sanctioned about 1,600 people – including Abramovich, who is separately challenging sanctions imposed by the EU – following last year's invasion of Ukraine and frozen more than 18 billion pounds ($23 billion) in assets.
Shvidler – a dual British-U.S. citizen – argued Britain was wrong to impose sanctions just because of his relationship with Abramovich, whom he described as a close friend.
Britain had also cited Shvidler's position as a director of London-listed Russian steel producer Evraz and role at Russian oil company Sibneft, sold by Abramovich in 2005, as evidence he obtained a financial benefit from Abramovich.
The businessman's legal team told the High Court at a hearing in July that Shvidler did not receive any financial benefits from Abramovich, and any payment he received from Evraz or Sibneft was from those companies and not Abramovich. (Reporting by Michael Holden; Editing by Kate Holton)
