A billionaire ally of Roman Abramovich has lost a court bid to overturn UK sanctions imposed on him after Russia’s invasion of Ukraine.

Eugene Shvidler’s two private jets were seized in March 2022 after officials highlighted his decades-long friendship with Mr Abramovich and his close links to Russian steel company Evraz.

The Foreign, Commonwealth and Development Office (FCDO) described the Soviet-born billionaire as a “business partner” of the former Chelsea FC owner.

Mr Shvidler’s failed High Court appeal against the sanctions is the first such case to reach judgment in the UK and could have wide-reaching implications for others hoping to mount similar appeals.

His challenge revolved around claims he was wrongly targeted by officials who wanted to make him a “poster boy” for counter-Russian sanctions.

Mr Shvidler, whose wealth has been estimated at £1.1bn, denied that he ever obtained benefits from the Russian state and said UK sanctions had also affected his family. 

Harrow School withdrew its offer of a place to Mr Shvidler’s son when his father was sanctioned, while his daughter was told not to return by Wiltshire’s £45,000-a-year Marlborough College despite being part-way through her A-levels.

Describing the billionaire’s case as “hopeless”, trial judge Mr Justice Garnham said on Friday: “It is plain from all the evidence that the reason that the claimant was [sanctioned] was not just his role at Evraz but the combination of that role with his relationship with Mr Abramovich.”