In Spain, the court finally rejected the claim of the fugitive billionaire Pugachev to Russia

The former senator and founder of the International Industrial Bank, who at one time was on friendly terms with President Vladimir Putin, demanded to recover more than 14 billion rubles from the Russian Federation

The Supreme Court of Madrid finally denied the fugitive Russian billionaire, founder of the International Industrial Bank and ex-senator from the Republic of Tuva Sergei Pugachev in satisfaction of his claim against the Russian Federation for the return of more than 14 billion rubles to him. This information is provided by RIA Novosti with reference to court documents.

In the summer of 2020, the international arbitration in Madrid decided to refuse Pugachev’s claim for $14.5 billion. In addition, the court ordered him to reimburse Russia for the costs of the proceedings in the amount of $5.8 million.

According to RIA Novosti, the verdict of the Supreme Court of Madrid is final, that is, not subject to any appeal. Meanwhile, Pugachev himself told RBC that he had already filed an appeal against him.

“This is last year’s decision, we have already appealed it, we are waiting for a decision. If there is a refusal, there will be the next appeal, the next instance. In short, routine. The court of appeal did not consider our complaint, they simply wrote that they trusted the arbitrators, which, in general, is nonsense, but not a surprise, ”Pugachev said.

Sergei Pugachev demands to recover money from the Russian Federation as compensation for damage caused as a result of what he believes to be an illegal seizure of assets from him (shipbuilding holding, Yenisei Industrial Company, etc.).

Sergei Pugachev was in the “Golden Hundred” of Russian billionaires according to Forbes until 2008, from December 2001 to January 2011 he was a member of the Federation Council. It is known that he is a former friend of Russian President Vladimir Putin.