In brief
The European Union announced plans to drop sanctions on Russian businessmen Alisher Usmanov and Mikhail Fridman, a move that has provoked anger in Ukraine. The sanction removal comes after France pushed for Usmanov’s removal and Luxembourg backed Fridman’s case. Latvia initially resisted but accepted a compromise that extended sanctions on 2,600 others for three years. Ukrainian officials branded the decision as “unacceptable,” warning Moscow it signals division among Europe. Kremlin spokesperson Dmitry Peskov praised the removal, claiming EU sanctions were illegal.
EU Removes Sanctions on Two Russian Oligarchs, Sparking Ukraine Anger
The European Union announced that it will lift sanctions on Alisher Usmanov, a Russian-Uzbek billionaire linked to President Vladimir Putin, and Mikhail Fridman, a Russian-Israeli businessman holding significant interests in energy and banking.
France has campaigned for the removal of Usmanove’s sanction status, citing national security concerns, while Luxembourg has backed Fridman’s case, seeking the release of frozen assets. Latvia initially opposed the decision, but a compromise was reached that extended sanctions on nearly 3,000 other individuals and entities for three years.
Ukrainian officials have openly called the move “unacceptable,” warning that it sends the wrong signal to Moscow and could embolden the Kremlin. Foreign Minister Andriy Sybiha said on X that Moscow is celebrating a sense of impunity and division among Europeans.
In response, Kremlin spokesperson Dmitry Peskov welcomed the prospect of the two oligarchs being removed from the list, asserting that EU sanctions are illegal and all Russians should be freed from them.
Usmanov’s business interests include USM Holding, which owns iron, steel, and copper suppliers, and the Megafon telecommunications company. He has historically maintained close ties with football clubs Arsenal and Everton.
Fridman’s background includes founding the Alfa Group investment conglomerate, with key holdings in energy and finance. He was criticized for refusing to condemn the war outright, despite urging a swift end to the conflict. His Latvian business partner, Pyotr Aven, was stripped of Latvia’s highest civilian honour in 2022 for not condemning the invasion.
