The European Union has decided to remove Russian billionaires Alisher Usmanov and Mikhail Fridman from its sanctions list, while simultaneously extending sanctions on almost 3,000 individuals and entities linked to Russia’s actions in Ukraine. The decision, influenced by requests from France and Luxembourg, comes as part of the EU’s broader strategy of maintaining pressure on Russia amidst the ongoing conflict.
With the renewal deadline approaching, EU member states reached a unanimous agreement on the sanctions framework, which is essential under EU rules. The removal of Usmanov and Fridman has triggered criticism from Ukraine, where officials have expressed opposition to easing restrictions on the two businessmen.
In a significant shift, the EU has opted to extend the current sanctions for a period of 36 months, rather than the traditional six-month renewal. This change aims to provide greater stability and predictability to the sanctions regime, ensuring sustained pressure on key sectors of the Russian economy.
The EU’s sanctions list still includes prominent figures such as Russian President Vladimir Putin and Foreign Minister Sergey Lavrov. Additionally, it targets senior officials, banks, energy companies, and entities connected to Russia’s defense sector. The EU is also in the process of preparing further sanctions targeting those associated with Russia’s military-industrial complex.