The Latvian Ministry of Justice claims that the decision to impose sanctions against Aven and Fridman was based on evidence of financial support of Russian individuals responsible for the annexation of Crimea to Russia and the situation in Ukraine. The Republic can appeal the EU Court's decision until June 20.

Peter Aven is still a citizen of Latvia, writes Delfi. The businessman's lawyer, Janis Karklins, in a conversation with LETA, noted that the republic, in demanding that the sanctions remain in force, is guided by emotions and does not evaluate the court's decision objectively. According to him, the decision made is “absolutely legally correct.”

On April 10, the EU Court overturned personal sanctions against Aven and Fridman. The EU Council did not provide additional evidence of the need to include Aven and Fridman in the sanctions lists. Previously, European authorities explained the introduction of restrictions by the fact that businessmen are the main shareholders of Alfa Group. It was also alleged that Aven and Fridman are allegedly associated with Russian President Vladimir Putin. The court ruled that the decision to include Aven and Fridman in the sanctions lists was not justified.

At the same time, Reuters wrote that the court’s decision to lift the sanctions concerns the period 2022–2023. In March 2024, the restrictions were extended; the court order does not apply to this, so Aven and Fridman still remain under personal sanctions. Fridman told Vedomosti that he was pleased with the court's decision.

Aven and Fridman fell under EU sanctions in the spring of 2022. In March 2022, they resigned from the supervisory board of Alfa Bank. A year later, it became known that businessmen would withdraw from the bank’s shareholders and transfer shares to business partner Andrei Kosogov.