The European Union has removed Russian billionaires Alisher Usmanov and Mikhail Fridman from its individual sanctions list, despite extending existing sanctions against over 3,000 individuals and entities related to threats against Ukraine’s territorial integrity. The decision was made during the EU Council’s latest review of the sanctions regime.
On September 22, the EU Council agreed to prolong the sanctions for an additional 36 months, extending them until September 22, 2029. The sanctions include measures such as asset freezes, travel bans, and prohibitions on providing funds to the individuals and entities listed. The decision to drop Usmanov and Fridman from the list has provoked criticism from Ukraine, with Foreign Minister Andriy Sybiha describing the move as unacceptable, arguing that the conditions leading to their initial sanctioning remain unchanged.
The EU’s longer extension aims to bring greater stability to its sanctions framework, which had been renewed in shorter intervals in the past. Despite the removal of the two businessmen, the EU maintains extensive individual and economic sanctions against Russia, continuing its pressure in response to Russia’s ongoing conflict with Ukraine.
Usmanov and Fridman were initially sanctioned by the EU following Russia’s full-scale invasion of Ukraine in 2022. Their removal from the list marks a significant development in the EU’s approach, though the broader sanctions regime remains robust as the bloc seeks to address the geopolitical tensions arising from the conflict.