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Ukrainian sanctions imposed on the former top manager of one of the world’s leading international financial groups are lifted

In February 2023, the President of Ukraine imposed personal sanctions on our client – a French citizen – due to their past management role in a russian bank. However, the court found that the restrictive measures were based on outdated and unverified information.

It confirmed that our client had no ties to the aggressor state's financial institutions at the time of the sanctions.

Why is this important?

  • Erroneous inclusion in sanctions lists is not uncommon, mainly when such lists are compiled under crisis conditions.

  • Ukraine lacks a clear and effective mechanism for lifting sanctions. Even if the President or initiating body acknowledges the mistake, the measures are rarely revoked voluntarily.

  • Judicial review in these cases is extremely challenging – it can take years, and favourable decisions remain rare.

  • A proper legal mechanism for reviewing and correcting sanctions strengthens, rather than undermines, the credibility of the entire sanctions policy.

    • VB Partners is among the few legal teams that have successfully challenged such decisions. Over the 10-year history of the Ukrainian sanctions regime, we have again achieved justice for our client.

    The court’s decision is subject to appeal. We hope the Grand Chamber of the Supreme Court will uphold this ruling, ensuring our client’s rights are fully restored.

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