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Ukrainian Oligarch Rinat Akhmetov Suing Russian Government Over Property Seizures

A specific amount of damages claimed by Akhmetov from the Russian Federation is not specified in the case; according to the news release, this amount “cannot yet be assessed given the continuing war.”

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Rinat Akhmetov is the richest person in Ukraine. In the steel business, he became wealthy. Rinat has witnessed the Russian invasion’s devastation of his home and workplace over the past few months. The Financial Times now reports that Akhmetov has sued Russia for its government’s activities in his country in the European Court of Human Rights.

According to the case, he and others have had their steel sector assets unlawfully taken by Russian authorities, and they are now seeking compensation from the Russian Federation for their losses. In a press release announcing the lawsuit, Akhmetov emphasizes how the issue is urgent and significant much beyond his own company:

Evil must be punished. Crimes committed by Russia against Ukraine and our people are heinous, and those responsible must be held accountable. I have filed a request for damages with the European Court of Human Rights with the assistance of the top Ukrainian and American attorneys. One of the first international legal actions taken against Russia to put an end to their continued crimes, the ruination of the Ukrainian economy, and the theft of their assets is this lawsuit.

“Steel and other exports from Ukraine have already been looted, driving up prices and causing famine in other parts of the world. Stopping these heinous acts is necessary, and Russia must make full restitution. I stand up for fairness because I believe in it.”

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Alexander Hassenstein/Bongarts/Getty Images

Getty Images/Alexander Hassenstein/Bongarts

A specific amount of damages requested by Akhmetov against the Russian Federation is not specified in the complaint; the press release states that it “cannot yet be estimated given the ongoing war,” but judges that it must be appropriately in the vicinity of “billions of dollars.”

Unfortunately for Akhmetov, there are more legal issues with the case than typical. In addition to the ongoing conflict, a representative for Russian President Vladimir Putin has already said that his nation has left the ECHR and will not submit to any decisions made by it. So even if Russia doesn’t pay anything, it’s possible that the action is meant to have some symbolic value.

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