The European Union is set to lift sanctions on two prominent Russian oligarchs who were targeted following Russia’s full-scale invasion of Ukraine in 2022. The decision, reported by multiple sources, has sparked strong dissatisfaction and anger among Ukrainian officials.
France has actively lobbied for the removal of Russian-Uzbek billionaire Alisher Usmanov from the sanctions list, citing “national security concerns.” Meanwhile, Luxembourg has called for the delisting of Russian-Israeli businessman Mikhail Fridman, who is currently engaged in legal battles to unfreeze his assets in the country.
Latvia initially opposed the compromise but ultimately agreed to a deal that includes extending sanctions on nearly 3,000 other individuals and entities for an additional three years.
Ukrainian authorities have condemned the move, calling it “unacceptable” and warning that it sends a dangerous signal to Moscow. “Moscow is celebrating because it got what it wanted: a sense of impunity, the humiliation of the EU, and division among Europeans,” Ukrainian Foreign Minister Andriy Sybiha stated on social media platform X.
Sybiha has urged all European Union member states to implement their own national sanctions against the two oligarchs. Latvia has already announced its intention to proceed with unilateral restrictions.
Kremlin spokesperson Dmitry Peskov welcomed the potential removal of the two businessmen from the EU sanctions list, reiterating Moscow’s long-standing position that the sanctions are illegal and calling for the complete removal of all Russian nationals from the list.
Alisher Usmanov is the founder of USM Holding, a major investment group with interests in iron, steel, copper production, and the telecommunications giant Megafon. He previously maintained close ties with English Premier League football clubs Arsenal and Everton. The European Union froze his assets in 2022, describing him as a pro-Kremlin oligarch with particularly close ties to Russian President Vladimir Putin, a designation Usmanov has called “unfair.”
Reports suggest that France’s push for Usmanov’s removal was linked to a prospective prisoner exchange deal involving Azerbaijan.