Billionaire Shvidler Loses Last Attempt to Lift UK Sanctions (1)

A billionaire ally of Roman Abramovich lost a last ditch attempt to lift sanctions at the UK top court, as judges declared that the measures had to be tough to be effective.

Eugene Shvidler, a British citizen now living in the US,, attempted to appeal the restrictions, arguing that they’d shattered his reputation. The case was the first involving a designation under the Russian restrictions to go before the UK’s most senior judges and a test of the British government’s pursuit of tycoons and their assets.

“Sanctions often have to be severe and open-ended if they are to be ...