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The European Union is expected to remove Russian-Uzbek billionaire Alisher Usmanov and Russian-Israeli businessman Mikhail Fridman from its sanctions list, a decision that has drawn strong criticism from Ukraine.
France advocated removing Usmanov, citing “national security concerns”, while Luxembourg pushed for Fridman’s removal amid his legal action against the country over frozen assets, according to Reuters.
Latvia initially opposed the proposal in a vote by EU ambassadors but later abstained after a compromise was reached. Under the agreement, sanctions on nearly 2,600 other individuals and entities will be extended for three years instead of being renewed every six months.
Ukraine calls decision unacceptable
Ukrainian officials said the move sent the wrong signal to Moscow. Foreign Minister Andriy Sybiha described it as “unacceptable” and urged all EU member states to impose national sanctions on the two businessmen. Latvia has already said it would do so.
“Moscow is celebrating because it got what it wanted: a sense of impunity, the humiliation of the EU, and division among Europeans,” Sybiha said on X.
Kremlin spokesperson Dmitry Peskov welcomed the prospect of the sanctions being lifted, saying the EU’s restrictions were illegal and that all Russians should be removed from the list.
Why were Usmanov and Fridman sanctioned?
Usmanov founded “USM Holding”, an investment group with interests in iron, steel and copper suppliers as well as telecommunications company “Megafon”. He has also previously been linked to English Premier League clubs “Arsenal” and “Everton”.
The EU froze Usmanov’s assets in 2022 and described him as “a pro-Kremlin oligarch with particularly close ties to Russian president Vladimir Putin”. Usmanov rejected the decision as “unfair”. Reports have linked France’s initiative to a possible prisoner-release agreement with Azerbaijan.
Fridman, who was born in Ukraine, is a founder of the “Alfa Group” investment conglomerate, whose main interests include energy and banking. The EU has called him a major Russian financier and an enabler of Putin’s inner circle.
After Russia launched its full-scale invasion of Ukraine, Fridman said the conflict should end as soon as possible but did not directly condemn President Vladimir Putin.
Latvia agrees to a compromise
Latvia’s initial opposition may have been influenced by its decision in 2022 to strip Fridman’s Russian-Latvian business partner Pyotr Aven of the country’s highest civilian honour for failing to condemn the invasion.
As part of the compromise, France agreed to begin talks with Latvia on joining a French nuclear deterrence initiative and to strengthen its military presence in Latvia, Latvian Prime Minister Andris Kulbergs said.
