HomeWorldFriedman sued Luxembourg for...

Friedman sued Luxembourg for $16 billion

Image: Getty Images

Friedman asserted that by freezing his assets, Luxembourg violated the 1989 bilateral investment treaty concluded between Belgium and Luxembourg on the one hand and the USSR on the other.

Russian billionaire, Alfa Group co-owner Mikhail Fridman filed a claim against Luxembourg at the Hong Kong International Arbitration Center in connection with the international freezing of assets he owns through companies with held by Luxembourg. Russian media wrote about it on Wednesday, August 14.

Friedman considers the freezing of his Luxembourg assets as part of the implementation of EU sanctions illegal and demands compensation in the amount of 16 billion US dollars, this is the estimated value of his assets in the country.

Friedman’s defense of the case links the EU sanctions against the businessman to his Russian citizenship and business success, which they say is a “gross injustice” and “violates international law.”

Furthermore, Friedman asserted that by freezing his assets, Luxembourg violated the 1989 bilateral investment treaty concluded between Belgium and Luxembourg on the one hand and the USSR on the other.

Russian lawyers note that the claim against Luxembourg will not be withdrawn even if the sanctions are lifted, as their client’s assets have been “severely damaged.”

Let’s recall that earlier the European Union Court upheld the claim of Russian oligarchs Mikhail Fridman and Petr Aven to exclude them from the EU sanctions list.

Russian billionaires Fridman and Aven called investing abroad a mistake
New Correspondent.net on Telegram and WhatsApp. Subscribe to our channels Athletistic and WhatsApp

Source: korrespondent

- A word from our sponsors -

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

- A word from our sponsors -

Read Now

The President signed the Law on 50% of the Motagrass for Veterans

The President of Ukraine signed a law that reduces the cost of a motorcycle by 50% for veterans and persons with disabilities as a result of the war (No. 4369-IX). .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px;...

GBI was struck by anger, the requirement of short -term reconciliations of SOC without Boytsov’s order

Employees of the State Bureau of Investigations exposed military personnel in the Nikolaev area, who demanded that the military left some of the military in exchange for returning to the service. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height:...