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EU Court Upholds Asset Freeze of Russia's Almaz-Antey Arms Manufacturer

© Sputnik / Evgeny Biyatov / Go to the mediabankThe Almaz-Antey stand at the 2015 Dubai Airshow international exhibition. (File)
The Almaz-Antey stand at the 2015 Dubai Airshow international exhibition. (File) - Sputnik International
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The Court of Justice of the European Union's (CJEU) General Court (EGC) upheld a decision to freeze the 2015-2016 assets of Russia's Almaz-Antey defense manufacturer on Wednesday.

Михаил Фрадков на расширенном заседании коллегии Генеральной прокуратуры РФ - Sputnik International
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LUXEMBOURG (Sputnik) — EGC, formerly known as the Court of First Instance, said its ruling "dismisses the action brought by Almaz-Antey and thus upholds the freezing of that company’s funds."

"By manufacturing weapons and military equipment and supplying them to the Russian State… Almaz-Antey materially supports actions which undermine or threaten the territorial integrity, sovereignty and independence of Ukraine," the ruling reads.

On July 30, 2014, the EU Council made the decision to include the company in the lists of sanctions, saying that Almaz-Antey, as a Russian state-owned company, "contributed to the destabilization of Ukraine," since "Russian authorities were providing heavy weaponry to separatists in Eastern Ukraine."

Almaz-Antey filed a lawsuit against the EU Council in May 2015, while the second appeal by the company was sent to the EU court in September. The company contests individual sanctions against it, as well as sectoral restrictions.

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