EU Reaches Preliminary Agreement to Remove Usmanov and Fridman from Sanctions List While Extending Broader Restrictions

Update on the Removal of Russian Oligarchs from the EU Sanctions List

According to 5 канал: The European Union has tentatively agreed to exclude Russian billionaires Alisher Usmanov and Mikhail Fridman from its sanctions roster. However, sanctions against nearly 3,000 other individuals and entities are set to be extended. This preliminary deal was reached on September 21 but still requires unanimous approval from all 27 EU member states before it can be finalized.

Ukraine’s Foreign Minister, Andriy Sybiha, has strongly condemned the potential removal of Usmanov and Fridman from the sanctions list. He emphasized that

“Usmanov and Fridman were included because they are integral to Russia’s aggressive regime, which wages a war of aggression against Ukraine. Nothing has changed. Removing them is unacceptable and would send the wrong message to Moscow at a time when pressure should be intensified.”

Sybiha also urged that

“the sanctions lists be expanded and their duration extended from six to twelve months to reduce counterproductive efforts aimed at appeasing Russian oligarchs.”

Varied Stances Among EU Member States on Sanctions

France and Luxembourg are among the countries backing the removal of these oligarchs. France advocates for Usmanov’s delisting on national security grounds, while Luxembourg supports removing Fridman-but only if Usmanov is also excluded. According to the Financial Times, France’s position may be linked to negotiations for the release of French citizens held in Azerbaijan. Initially, some Nordic and Baltic nations, including Latvia, opposed the removals but have since aligned with the preliminary agreement.

The EU’s sanctions against Russia include asset freezes and travel bans, with member states agreeing to extend the duration of these measures from six to 36 months. As part of a major sanctions expansion, the EU is reviewing 1,600 candidates-comprising 800 individuals and 800 Russian companies-for potential inclusion. Ukrainian President Volodymyr Zelensky has underscored that

“now is not the time to ease sanctions, rescue Russian oligarchs, or gift Russia any reprieve.”

Additionally, the EU has renewed discussions on utilizing frozen Russian state assets and imposed sanctions on five Russian nationals connected to the country’s defense industry. The UK government has also announced a fresh sanctions package targeting Russia, listing six banks, six vessels, companies, and an individual.

This ongoing debate over excluding certain Russian oligarchs from sanctions highlights divisions within the EU regarding its approach to Russia. Opposition from Ukraine and Eastern European countries reflects concerns about potentially weakening pressure on Moscow amid the ongoing conflict. Meanwhile, countries like France and Luxembourg are prioritizing their national interests, indicating that discussions over the future direction of EU sanctions policy are likely to continue.

As the EU navigates complex political dynamics surrounding sanctions, the situation remains fluid. While discussions about the removal of Usmanov and Fridman unfold, the bloc is simultaneously intensifying its efforts against a broader group of individuals and entities. This recent move underscores the EU's commitment to addressing the ongoing conflict. For a deeper understanding of the EU's latest sanctions targeting a significant number of Russian entities, see our coverage on new sanctions against 1,600 Russian companies and individuals.