EU court rejects Russian firms’ request to repeal sanctions

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The European Court of Justice dismissed an appeal to cancel EU sanctions filed by Russian companies including Gazprom Neft and Rosneft as well as several Russian bankson Thursday. The court resolution confirmed that sanctions were applied correctly. The judges underscored that the purpose of sanctions is to “increase the costs of Russia’s actions undermining the territorial integrity, sovereignty, and independence of Ukraine, and to support a peaceful resolution of the crisis.” In their opinion, it is consistent with the objective of maintaining international peace and security.

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