A French court rejected an appeal from the Ukrainian government and ruled that Ukrainian billionaire Kostyantyn Zhevago should not be extradited over accusations of embezzlement, a court spokesperson said on Friday.
Zhevago, who controls London-listed iron pellet producer Ferrexpo (FXPO.L), was arrested at a French ski resort in December 2022 at the request of Ukraine, which wants him for alleged embezzlement involving a now-collapsed bank.
Zhevago has repeatedly denied any wrongdoing.
“(The court) concludes that the petitioning state (Ukraine) is not able to guarantee that Mr. Zhevago will be tried by a court that can ensure fundamental procedural guarantees and protection of the defence rights,” said a court verdict.
Ukraine issued an arrest warrant in 2019 for Zhevago, 49, who served in parliament from 1998 to 2019, with an international arrest warrant following in 2021.
