The European Union has decided to remove Russian billionaires Alisher Usmanov and Mikhail Fridman from its individual sanctions list while extending sanctions against more than 3,000 individuals and entities associated with threats to Ukraine’s territorial integrity. This decision was part of the EU Council’s recent review of its sanctions regime.
On September 22, the EU Council agreed to extend these sanctions for an additional 36 months, pushing the deadline to September 22, 2029. The measures include asset freezes, travel restrictions, and a prohibition on making funds available to those listed. The removal of Usmanov and Fridman from the sanctions list came as a surprise, given their initial inclusion following Russia’s full-scale invasion of Ukraine in 2022.
Ukraine swiftly criticized the EU’s decision to delist the two Russian businessmen. Ukrainian Foreign Minister Andriy Sybiha expressed that removing Usmanov and Fridman was “unacceptable,” arguing that the conditions leading to their original listing have not changed. This development has sparked concerns about the consistency and impact of the EU’s sanctions policy.
The EU’s decision to extend the sanctions period reflects an effort to bring greater stability to its sanctions framework, which had previously been renewed at shorter intervals. Despite the exclusion of Usmanov and Fridman, the EU continues to enforce extensive individual and economic restrictions against Russia in response to its ongoing conflict in Ukraine.