Dutch trader Niels Troost, the sole European sanctioned for engaging in Russian oil trading, has approached a prominent EU court seeking to nullify the sanctions against him. He argues that the decision was swayed by misleading information from a former business partner.
In legal documents presented to the EU’s General Court, Troost’s legal team asserted that his businesses stopped any involvement with Russian oil well over a year before the EU enacted its sanctions. They also noted that a shipping company included in the sanctions listings was sold by Troost over six years ago.
Troost’s attorneys claim that Gaurav Srivastava, his former partner, engaged in a smear campaign, resulting in Troost being wrongfully sanctioned. They highlighted that Srivastava had allegedly made false claims about being a CIA operative and assured Troost he could obtain a US Treasury license that would enable legal trading with Russia following its invasion of Ukraine.
Troost severed ties with Srivastava in May 2023 after uncovering what he described as deceit and has accused him of damaging Troost’s reputation with exaggerated claims of his ties to the Kremlin. Troost’s court filings convey that “disinformation spread by bad actors like Mr. Srivastava seeks to distort facts and influence decisions, which can undermine the effectiveness of sanctions.”
Sivastava, on his part, denies the accusations, labeling Troost as “a rogue trader in [Vladimir] Putin’s pocket.”
The EU’s sanctioning actions are generally built on publicly available information and media reports. To date, they have sanctioned nearly 2,400 individuals and organizations related to the conflict in Ukraine. More than 100 individuals have contested the sanctions, though many of these cases are still pending. Anitta Hipper, a spokesperson for EU foreign policy, mentioned that although some rulings have favored sanctioned individuals, the majority upheld the EU’s decisions.
The evidence against Troost reportedly includes eight media articles, documented records from his company, and public domain details. Troost is sanctioned for owning companies that allegedly continued Russian crude trading above the EU-imposed price cap after it was introduced in late 2022. His lawyers, however, argue that they were not obliged to follow EU regulations due to their operational setup.
The EU’s findings also state that Troost was linked to a Hong Kong-registered shipping firm, accused of breaching the oil price cap. Troost’s legal team has evidence showing that he sold this company, Livna, to another director in 2018, emphasizing that Troost has had no control over its operations since then.
In statements, Srivastava has insisted that thorough investigations support the sanctions against Troost and denounced his claims as distractions from his actual activities. Troost is not only sanctioned by the EU but has also faced similar consequences from the UK and Switzerland, making him one of only a few Europeans to be targeted for such actions related to the Ukraine crisis.