EU agrees to lift sanctions on Russian oligarchs Usmanov and Fridman

European Union member states agreed on Tuesday to remove Russian billionaires Alisher Usmanov and Mikhail Fridman from the sanctions list, diplomatic sources cited by Politico said.

The agreement came after France requested Usmanov’s removal, while Luxembourg had earlier sought Fridman’s delisting.

The decision followed more than a week of disagreements among EU member states over the renewal of individual sanctions against some 3,000 people and entities linked to Russia.

According to reports, Slovakia and France favored lifting the sanctions on Usmanov, while Slovakia, Hungary and Luxembourg backed the removal of sanctions on Fridman.

Five diplomats told Politico the deal was struck after Latvia, which had opposed the move, agreed to abstain.

The sanctions list is expected to remain in force for three years, effectively pushing further discussion on individual listings to 2029.

France supported removing Usmanov from the list, citing a “specific national security issue”, according to a French diplomatic official quoted by the Washington Post.

Earlier on Tuesday, Estonia’s Deputy Secretary-General of the Foreign Ministry, Kerli Veski, told broadcaster ERR that there was no justification for removing the two men from the EU sanctions list.

Veski said Estonia, Latvia and most other EU member states opposed removing the billionaires from the sanctions list.

Usmanov and Fridman are Russian billionaires with extensive business interests in Europe.

Usmanov built his fortune in metals, mining, telecommunications and technology. Fridman, a Russian-Israeli, built his through banking, energy and investments.

Both have faced EU sanctions since the start of the war in Ukraine.

Their assets in Europe have been affected by the sanctions, and both have challenged the restrictions through legal and political channels.

Commenting on the decision on X, Ukraine’s Foreign Minister Andrii Sybiha described the move as “shameful and unjustifiable”, urging all EU member states to announce they would impose their national sanctions on the men.

Kremlin spokesman Dmitry Peskov said at a press briefing that Moscow considers the sanctions on Usmanov and Fridman “illegal” and that sanctions should be lifted for all Russian citizens.