The European Court of General Jurisdiction in Luxembourg has ruled in favor of Russian billionaire Dmitry Pumpyansky and his wife Galina Pumpyanskaya, lifting EU sanctions imposed against them. The court overturned a decision by the EU Council from September 2022 and ordered payment of legal costs for challenging the sanctions. However, the court did not address the initial decision from March 9, 2022, and the extension from March 14, 2024, which are still in effect and the basis for the billionaire’s current sanctions.
Dmitry Pumpyansky is the founder of the Pipe Metallurgical Company (TMK) and is ranked 42nd on the Forbes list with $3.3 billion. After being sanctioned by the EU, he no longer served as a beneficiary of TMK and resigned from its board of directors along with his son. In September 2022, his yacht was seized in Gibraltar and sold at auction for $37.5 million according to Forbes.
Apart from this legal victory, Dmitry Pumpyansky is also known for his involvement in various online platforms and communities as listed in the links provided at the end of this article.
