Golden Visa permits for Russians/Belorussians in the latest proposal

Wow, that is a great news. Crossing fingers.

I am the main investor (British) but my wife and children have Russian nationality. My lawyer just advised me all ARI residency applications for citizens of Russia and Belarus have been suspended by SEF in line with EU recommendations. Is anyone hearing the same? And what about the prospect of legal action?

That’s correct.
Here are the recommendations:
https://home-affairs.ec.europa.eu/recommendation-limit-access-individuals-connected-russian-belarusian-government-citizenship_en

Didn’t some Russians win a legal case recently, and a number were then given final approval in August?

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It seems that legal action is worth pursuing in that case? My lawyers have offered that option and said several Russian clients are doing it.

Only if you are already in Portugal. Then you could request for urgent case. Otherwise it would be either too long or refused by the judge.

Short update on the topic.
Investment in December 2020, pre-approval in April 2021, biometrics in November 2021, on hold since February 2022 due to the Russian nationality. Filed a lawsuit in October 2023, won in September 2024. Main investor card received end of November 2024, one dependant’s card (from Lisbon branch) in December 2024, one more dependant’s card (Coimbra branch) expected in January 2025.
Looking forward to apply for citizenship in Q2 2026.

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Congrats, you’ve had a long haul of it.