Russian billionaire Mikhail Fridman is launching a high-stakes legal battle against the Netherlands, demanding billions in compensation and the return of assets like Holland & Barrett, claiming Dutch authorities targeted his bank before Russia’s invasion of Ukraine. Backed by a 1989 bilateral investment treaty, Fridman’s case is part of a broader pattern—he’s also suing Ukraine for a billion dollars and Luxembourg for sixteen billion, with a UK case set to begin in 2025. Experts warn these claims are legally murky, as EU courts have questioned the validity of old treaties against modern sanctions, and the EU is moving to strengthen rules that could make such cases harder to win. Fridman’s strategy of filing lawsuits outside the EU, including in Hong Kong, hints at a calculated effort to find jurisdictions more favorable to his claims.
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