The Sakharov Prize, officially known as the Sakharov Prize for Freedom of Thought and named after Soviet scientist and dissident Andrei Sakharov, was established in December 1988 by the European Parliament as a means to honour individuals and groups of people who have dedicated their lives to the defense of human rights and freedom of thought.A shortlist of nominees is drawn up by the Committee on Foreign Affairs and the Committee on Development, with the winner announced in October.The prize is accompanied by a monetary award of €50,000.