Putin’s oil company lost in EU court over the Russia sanctions

The European Union’s Court of Justice has confirmed that the bloc’s economic sanctions on Russian companies over the Kremlin war in Ukraine and the occupation of Crimea are valid.

The EU’s top court decision Tuesday came in response to legal challenge by Russian oil and gas state giant Rosneft before a British court.

Rosneft wants to annul a decision by EU leaders in July 2014 to restrict certain financial transactions and sensitive exports imposed after Russia invaded Ukraine and annexed Ukraine’s Crimea.

The Luxembourg-based ECJ said the “restrictive measures” adopted in response to the crisis in Ukraine against certain Russian operations, including Rosneft, are “valid”.