The European Union’s recent decision to remove Russian billionaires Alisher Usmanov and Mikhail Fridman from its sanctions list could potentially ease certain financial restrictions for these individuals, though the broader sanctions against Russia remain firmly in place. This development comes as part of the EU’s renewal and extension of sanctions targeting over 3,000 individuals and entities linked to threats against Ukraine’s sovereignty.
On September 22, the EU Council announced the extension of these sanctions for another 36 months, setting the new expiration date at September 22, 2029. These measures, which include asset freezes, travel bans, and prohibitions on providing funds to the listed parties, aim to maintain pressure on Russia amid the ongoing conflict in Ukraine.
The decision to delist Usmanov and Fridman arose during the EU’s periodic review of its sanctions regime. Both businessmen were initially sanctioned following Russia’s full-scale invasion of Ukraine in 2022. However, the removal of their names from the list sparked criticism from Ukraine. Foreign Minister Andriy Sybiha expressed strong disapproval, asserting that the circumstances that led to their initial listing have not changed.
Despite the removal of these two individuals, the EU’s commitment to its broader sanctions framework remains unwavering. The longer renewal period is intended to provide greater stability and continuity to the measures, which had previously been subject to more frequent reviews and renewals. The EU continues to uphold extensive sanctions against Russia, reflecting the bloc’s ongoing stance against the war in Ukraine.