Boris Rotenberg lost a lawsuit against Finnish banks

The Helsinki District Court denied claims to Finnish banks to Finnish-Russian billionaire Boris Rotenberg, obliging him to pay legal costs of about 530 thousand euros, the Helsingin Sanomat newspaper reported on Monday.
The filing of the lawsuit became known in October 2018. Rotenberg demanded compensation from Nordea Bank Abp, Svenska Handelsbanken AB, Danske Bank A / S and OP Corporate Bank for violation of service agreements after the introduction of US sanctions against him.
European banks are forced to comply with US sanctions on individuals in order to continue business with American banks, even if these people are not subject to European sanctions. Rotenberg and his older brother Arkady came under American sanctions in 2014. At the same time, Boris Rotenberg did not fall under the sanctions of Europe, as he is a citizen of Finland.
“The Helsinki District Court found the banks not guilty of violating the contract (service) to stop payments to the Finnish-Russian billionaire Boris Rotenberg. The court ordered Rotenberg to pay legal costs for a total of about 530 thousand euros,” the statement said.
According to the court, banks will be exposed to significant financial risk due to Rotenberg’s sanctions if they make payments, therefore the decision of financial institutions is legal. Accepting significant financial risk due to Rotenberg’s possible payments would also be contrary to the risk rules in the Law on Credit Institutions and is not discriminatory.
Earlier it was reported that Boris Rotenberg demanded compensation from four Finnish banks for a total of 70 thousand euros, accusing them of discrimination, and also that he could not fulfill his civil duties, for example, to pay taxes.