The European Union has agreed to remove two Russian billionaires, Alisher Usmanov and Mikhail Fridman, from its sanctions blacklist, while renewing sanctions on nearly 3,000 other individuals and entities allegedly supporting Russia’s war on Ukraine for an extended period of three years.
This decision, brokered under Ireland’s EU presidency, represents a difficult compromise among the 27 member states, many of which opposed lifting sanctions on these two oligarchs. EU sanctions require unanimous approval, making this outcome contentious.
Compromise amid Disagreement
France pushed for Usmanov’s removal on national security grounds, reportedly linked to a prisoner exchange involving French nationals and Azerbaijan. Luxembourg requested similar treatment for Fridman, who is engaged in a $16 billion lawsuit against Luxembourg after the freezing of his assets. Both exemptions provoked widespread frustration among EU members, who warned that allowing individual states to prioritize national interests could weaken the unified sanctions regime.
Criticism from Ukraine
Ukraine’s leadership denounced the delisting as unacceptable. Ukrainian President Volodymyr Zelenskyy emphasized on social media that every name on the sanctions list is linked to the war’s origins and continuation. Foreign Minister Andrii Sybiha described the decision as “shameful and unjustifiable,” accusing the move of emboldening Moscow and undermining European unity.
Extended Sanctions Deadline and Political Challenges
To facilitate the delisting, the EU extended the overall sanctions period from the usual six months to 36 months, aiming to enhance the sanctions’ durability and predictability. However, the process faced last-minute objections, notably from Latvia, which initially opposed the delistings due to upcoming parliamentary elections but later agreed to abstain.
The current blacklist still includes Russian President Vladimir Putin, Foreign Minister Sergey Lavrov, as well as key government deputies, banks, energy firms, and the military-industrial complex. EU officials are preparing to introduce roughly 1,600 additional designations targeting Russia’s military sector in the coming month, signaling ongoing enforcement despite recent political difficulties.
