Judgment of the General Court of 15 May 2024 – Russian Direct Investment Fund v Council
(Case T-235/22) 1
(Common foreign and security policy – Restrictive measures adopted in view of Russia’s actions destabilising the situation in Ukraine – Prohibition on investing in, participating in or otherwise contributing to projects co-financed by the applicant – Jurisdiction of the General Court – Action for annulment – Locus standi – Admissibility – Plea of illegality – Manifest error of assessment – Rights of the defence – Freedom to conduct a business – Proportionality)
Language of the case: English
Parties
Applicant: Russian Direct Investment Fund (Moscow, Russia) (represented by: K. Scordis and A. Gavrielides, lawyers)
Defendant: Council of the European Union (represented by: A. Antoniadis and M. Bishop, acting as Agents)
Intervener in support of the defendant: European Commission (represented by: J.-F. Brakeland, C. Giolito and M. Carpus Carcea, acting as Agents)
Re:
By its action under Article 263 TFEU, the applicant seeks, in essence, the annulment of (i) Council Decision (CFSP) 2022/346 of 1 March 2022 amending Decision 2014/512/CFSP concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine (OJ 2022 L 63, p. 5) and (ii) Council Regulation (EU) 2022/345 of 1 March 2022 amending Regulation (EU) No 833/2014 concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine (OJ 2022 L 63, p. 1), in so far as those acts concern the applicant.
Operative part of the judgment
The Court:
Dismisses the action;
Orders Russian Direct Investment Fund to bear its own costs and to pay those incurred by the Council of the European Union;
Orders the European Commission to bear its own costs.
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1 OJ C 237, 20.6.2022.