Russian Billionaire Takes Legal Action Against Luxembourg, Seeking Billions in Sanctions Compensation

Mikhail Fridman, a prominent Russian oligarch and founder of Alfa Group, is making headlines as he pursues a staggering $15.8 billion in compensation from Luxembourg. According to Fridman, a Soviet-era investment agreement protects his assets, which are registered in Luxembourg, from being indirectly expropriated. In a bold move, Fridman has become the first Russian billionaire to challenge European Union sanctions and demand compensation for frozen assets.