Putin and Erdogan give positive assessment to joint efforts in Astana processWorld October 21, 3:03
Privileges to certain languages in Ukraine’s education law to worsen situation — diplomatRussian Politics & Diplomacy October 20, 21:46
International balance of forces in Syria after Raqqa’s liberation unclear yet — expertMilitary & Defense October 20, 21:05
Russia to resume import of aubergines, pomegranates from Turkey since October 30Business & Economy October 20, 20:18
International station to orbit Moon at 70,000 km distance from EarthScience & Space October 20, 20:09
US indulging in lies to have UN-OPCW mission’s mandate extended — Foreign MinistryRussian Politics & Diplomacy October 20, 19:31
This week in photos: Diplomatic kiss, Paddington's dance and French bank in flamesSociety & Culture October 20, 17:46
Scientific team unlocks secret to supercaps’ vast capacity as ‘the battery of the future’Science & Space October 20, 17:40
Russian economy’s losses from cyber threats may surge fourfold in two yearsBusiness & Economy October 20, 16:52
“It is more expensive to take legal action than to suffer losses from sanctions,” he said.
Along with Russian oil majors Rosneft and Gazprom Neft and five major Russian state-run banks Sberbank, VTB, Gazprombank, VEB and Rosselkhozbank Transneft came under the effect of EU sectoral sanctions on July 31. The latest variant of European sanctions envisages a ban for EU investors to lend funding to Russian companies from the sanctions list for more than 30 days.
Sanctions are in effect for a year with an option of revision in three months.
The General Court of the European Union is a first instance court which is tasked to settle disputes related with EU legislation, their compliance with domestic legislations of EU states and their fulfilment by European companies and organisations. Rulings of this court can be cancelled by the European Court of Justice.
In the past European sanctions were already challenged successfully in court, particularly by several Iranian banks which proved that Brussels sanctions imposed on them were groundless.