Squatters not yet leaving Russian billionaire’s Amsterdam home after EU sanctions change

The European Union has removed Russian oligarch Arkady Volozh from its sanctions list, a spokesperson for the European Council confirmed to WIRED. The billionaire co-founder of Yandex, Russia’s biggest internet company, can now regain access to his assets in Europe, including a mansion on Vossiusstraat in Amsterdam, which is currently squatted by activists.

The squatters currently occupying the multi-million mansion next to the Vondelpark are considering what the lifting of the sanctions means for them, their lawyer told ANP. Last year, the court ruled on appeal that they could stay in the building while Volozh’s assets in Europe were frozen by the sanctions. “But now everything is thawing, and so Volozh has full enjoyment of his property again,” the lawyer said. “The consequence is that he can reclaim the house, and the squatters have to leave.”

Volhoz’s lawyer wasn’t available for comment, but sources recently told NOS that “visiting the house is one of the things that is high on his to-do list once the sanctions are lifted.” According to AT5, the squatter’s lawyers expect a damage claim from the Russian oligarch.

Europe imposed sanctions on Volozh in 2023, following Russia’s invasion of Ukraine the year before, arguing that he, as founder and CEO of search engine Yandex, is materially or financially supporting the Russian government. Yandex was also accused of suppressing independent news about the invasion.

Volozh stepped down as CEO of Yandex, which consists of two entities, one in Russia and one in Amsterdam, and criticized Russia’s war in Ukraine. The company also started the process of selling its Russian activities to the Russian state. In August, his lawyers petitioned the EU for sanctions relief based on those factors. In February, sources told Reuters that the EU was getting ready to lift the sanctions against him.