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EU Drops Usmanov and Fridman From Sanctions List Amid Reported Pressure From France and Luxembourg
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EU envoys have agreed to exclude two billionaires from the sanctions list against Russia while extending restrictions for the remaining 3,000 individuals and entities for three years.
The decision came after Latvia lifted its veto, as reported by Reuters on September 22.
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EU member states have reached a decision on the Russian sanctions list, though Latvia was the final party objecting to the highly tense process. Latvia ultimately abstained, which allowed the agreement to be concluded, according to Reuters.
Sanctions approval requires unanimity among EU member states, and previously, restrictions regarding Russia were subject to renewal every six months. The decision will be officially adopted only after the completion of a process known as the written procedure.
Earlier this month, according to Reuters, one of the member states caught other EU members by insisting on removing Russian-Uzbek metals tycoon Usmanov from EU sanctions, citing national security concerns.
Luxembourg then requested similar treatment for Fridman, who filed a $16 billion lawsuit against the country.
As sources explained to a Deutsche Welle correspondent in Brussels on condition of anonymity, the disagreements were tied to Slovakia seeking the removal of Alisher Usmanov and Mikhail Fridman from the sanctions list. France, for its part, blocked the extension of the sanctions regime in an effort to secure Usmanov's exclusion.
Meanwhile, Ukrainian Foreign Minister Andrii Sybiha criticized Brussels' position on September 22. "The decision to remove Usmanov and Fridman from the sanctions list is shameful and entirely unjustified," he stated, according to Deutsche Welle. "Moscow is celebrating because it got what it wanted: a sense of impunity, the humiliation of the European Union, and division among Europeans."
According to the Financial Times, Latvia opposed the demands of France and Luxembourg until the very end during the negotiations. "This is a complete disgrace. This is the end of the sanctions regime," one EU ambassador told the publication, noting that the bloc's member states faced a choice between excluding the two billionaires and failing to extend the entire sanctions list. "We all feel very uneasy. But it’s France… What could we do?" another diplomat stated.
Alisher Usmanov and Mikhail Fridman were sanctioned by the EU following Russia’s full-scale invasion of Ukraine for using their massive fortunes and businesses to support the Kremlin.
Alisher Usmanov built his wealth in metals and technology, controlling USM Holdings. He ran a major subsidiary of the state-owned gas giant Gazprom for over 14 years and bought media outlets like Kommersant to align with Kremlin strategy, maintaining direct ties to Vladimir Putin.
Mikhail Fridman co-founded Alfa Group, one of Russia’s largest financial conglomerates. He retained his influence by acquiring strategic state assets and using Alfa-Bank to finance major government projects, positioning himself as a key economic insider for Putin’s regime.
Previously, European Union diplomats hit a deadlock over renewing sanctions on nearly 3,000 Russian targets after France joined Slovakia in demanding the removal of billionaire Alisher Usmanov.
France cited national security and efforts to free its citizens detained in Azerbaijan, while Luxembourg pushed to delist billionaire Mikhail Fridman, forcing the EU to agree to a one-week extension to avoid the regime's expiration.
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