Russian Billionaire Vekselberg Says To Appeal 'Unlawful' US Sanctions

Russian billionaire and founder of Renova Group Viktor Vekselberg, who has been targeted by the US sanctions, pledged on Monday to challenge the "unfair" restrictive measures

MOSCOW (UrduPoint News / Sputnik - 15th October, 2018) Russian billionaire and founder of Renova Group Viktor Vekselberg, who has been targeted by the US sanctions, pledged on Monday to challenge the "unfair" restrictive measures.

On April 6, the United States imposed sanctions on Russia over Moscow's alleged global destabilization efforts. Renova Group, En+ Group, GAZ Group, Basic Element and Rusal were among the companies and individuals put on the sanctions list.

"My position is simple: the sanctions are illegal and unfair, there will be legal proceedings," Vekselberg told reporters at the Open Innovations Forum in Moscow, when answering the questions whether he was in talks with the US Office of Foreign Assets Control on lifting of the sanctions.

The businessman refrained from comments as to he planned to challenge the sanctions in London's High Court of Justice.

Renova's spokesman Andrei Shtorkh later clarified Vekselberg's comments, saying that the sanctions would be appealed through the US Treasury's procedure instead of litigation.

"They will be appealed through an established procedure. There is a legal team working to seek the lifting of sanctions within the framework of the procedure established by the US Treasury Department," Shtorkh told reporters.

The Open Innovations Forum is being held at the Skolkovo Innovation Center.