Meanwhile a different CAS panel has rejected a similar appeal against the FIFA ruling from a number of Russian clubs including Zenit JSC, Dynamo Moscow, Sochi, CSKA Moscow, Krasnodar, Lokomotiv, Rostov and Rubin.

"The object of both arbitrations was the decision rendered by the Bureau of the FIFA Council on 20 June 2022 (the challenged decision) which extended the application of Annex 7 ("temporary rules addressing the exceptional situation deriving from the war in Ukraine") to the regulations on the status and transfer of players until 30 June 2023," a CAS statement read.

Shakhtar's main appeal was over the legality of the ruling which resulted in a number of its players moving to clubs in other countries.

It claimed the ruling had led to a loss of €40 million (£35.3 million/$43.3 million) for player transfer income and depletion of club revenues.

Several players chose to suspend their contracts including Brazilian midfielder Tetê and Israeli forward Manor Solomon.

Tetê and Solomon are now playing for French side Lyon and English Premier League team Fulham respectively.

At least another six Brazilians are on loan - acting as a de-facto suspension as players are obliged to return at the end of the suspension period.

Another five Brazilians left to teams in France, Italy, Portugal and Austria, while home player Danylo Ihnatenko left for Ligue 2 team Girondins de Bordeaux in France.

The club called FIFA's rules "inappropriate and over-reaching" and outlined four arguments to have the measures changed.

First, Shakhtar claimed there were no legal grounds to suspend employment contracts under Ukrainian or Swiss law, while the second says the actions violate European Union competition law, which allows Ukrainian clubs to access the European players market - suggesting to limit that would be "anti-competitive."

It added that FIFA did not practice good governance - making the changes without consulting Ukrainian football clubs or the Ukrainian Association of Football.

Finally, Shakhtar said it was "discriminatory" against clubs from the country and that stops the economic freedom of teams.

"FIFA had a responsibility to help and support Ukrainian football during the war and instead its actions plunged the local football community into an even greater crisis," read the Shakhtar Donetsk club statement.

"In the present situation, the policies implemented by FIFA have caused considerable damages to FC Shakhtar.

"As such, the club seeks to claim back these losses and FIFA should repay the damages for which it is liable."

Shakhtar have been playing league matches in the capital city Kyiv since 2014 due to the war in Donbass.

However, two different CAS panels concluded that the complaint should be dismissed, confirming the legality of the contested FIFA decision.

"Both panels emphasised that the challenged decision was the consequence of a legitimate objective, in the light of the FIFA Statutes, and that the measures adopted were not grossly disproportionate and remained within the sphere of discretion granted to FIFA by Swiss law," the CAS statement added.

"The reasoned awards are being finalised and will be notified to the parties shortly."