Ukraine to Propose Sanctions on 10 More Russian Oligarchs After EU Drops Usmanov and Fridman

Ukraine considers the EU’s decision to remove two Russian billionaires from its sanctions list a mistake and will propose restrictions against ten more Russian oligarchs, Foreign Minister Andrii Sybiha stated, Babel reported on October 12.

Speaking ahead of a meeting of the EU Foreign Affairs Council in Luxembourg, Sybiha argued that sanctions pressure on Russia should continue to increase throughout the war, according to Babel.

The EU previously removed Russian billionaires Alisher Usmanov and Mikhail Fridman from its sanctions list on September 22. The decision followed negotiations among member states over extending restrictions against nearly 3,000 other individuals and entities.

“During the war, sanctions will never be enough. Our position is that removing two Russian oligarchs from the sanctions list was a wrong step. It was the wrong decision,” Sybiha stated. “That is why we will propose imposing sanctions on ten more Russian oligarchs.”

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Sybiha also expressed hope that the EU would adopt its 22nd sanctions package against Russia as soon as possible. He called on the bloc to increase pressure on Moscow, further isolate Russia, and make full use of frozen Russian assets, Babel wrote.

Ukraine had also recently proposed sanctioning Russian billionaires Vladimir Lisin and Vladimir Potanin in their place. Lisin controls Novolipetsk Steel, one of Russia’s largest steel producers, while Potanin controls mining giant Nornickel.

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