The court upheld the position of the VB Partners team and ruled that the sanctions imposed on the Client — a French citizen and former top executive of one of the largest international financial groups — were erroneous.
In February 2023, the President of Ukraine imposed personal sanctions on the Client. The basis for this decision was the Client’s presence in the management body of a Russian bank at the time the restrictions were applied.
However, during the court proceedings, it was established that the sanctions were based on outdated and unverified information. The court concurred with VB PARTNERS’ evidence, confirming that there was no connection between the Client and the aggressor state’s bank at the time the sanctions were imposed.
This decision is important for several reasons:
- erroneous application of sanctions is not uncommon, as sanctions lists are drawn up in times of crisis
- Ukraine lacks an effective procedure for lifting sanctions. Even when the President and the initiator of the sanctions acknowledge their erroneous nature, they do not revoke them independently
- judicial proceedings in such cases take years, and positive rulings are rare
- a proper legal review process for sanctions does not weaken sanctions policy, instead, it strengthens it by ensuring its justification and effectiveness
The court’s decision is subject to appeal. VB Partners’ legal team hopes that the Grand Chamber of the Supreme Court will uphold this ruling and fully restore our Client’s rights.
The VB Partners team is among the few who successfully protect the rights of clients in sanctions disputes. Over the 10-year history of sanctions in Ukraine, we have repeatedly sought their lifting in court.
