Billionaire Eugene Shvidler has lost his appeal at the UK Supreme Court against sanctions imposed over his ties to Russia, a ruling that lawyers say makes future challenges to similar measures

unlikely to succeed.

The Russian-born businessman, who holds both British and U.S. citizenship, was sanctioned due to his association with former Chelsea FC owner Roman Abramovich and his former role as a director at Russian steel producer Evraz. Shvidler, whose net worth is estimated at $1.6 billion by Forbes, argued that the measures were unfair, pointing out that other companies with deeper business ties to Russia—such as BP, which previously partnered with Rosneft—were not targeted.

The Supreme Court rejected his appeal by a four-to-one majority, upholding the UK’s sanctions regime. Shvidler criticized the decision, saying it “brings me back to the USSR” and accused the British government of “virtue-signalling for political purposes.”

The Foreign Office, which has sanctioned over 1,700 individuals and entities since Russia’s 2022 invasion of Ukraine, welcomed the ruling, calling it evidence of the “strength of the UK sanctions regime.”

Sharp dissent

Shvidler said the sanctions had devastated his business and personal life. His lawyers maintained that he has no political influence in Russia and has not visited the country since 2007.

While the majority ruled that the sanctions struck a “fair balance” between Shvidler’s rights and the UK’s policy objectives, Justice George Leggatt issued a strong dissent. He criticized the “flimsy reasons” for sanctioning Shvidler and argued that the measures represented a “serious invasion of liberty.” He also questioned why BP’s involvement with Rosneft had not led to similar penalties.

Maia Cohen-Lask, a partner at law firm Corker Binning, called the judgment “a huge blow not just for Mr. Shvidler but for anyone sanctioned despite lacking links to the Putin regime.”

The court also dismissed a separate appeal from Russian businessman Sergei Naumenko, whose €44 million ($51 million) superyacht was seized in London. Photo by Dsbull, Wikimedia commons.