The European Union has decided to remove Russian billionaires Alisher Usmanov and Mikhail Fridman from its individual sanctions list, a move that coincides with the extension of restrictions on over 3,000 individuals and entities related to threats against Ukraine’s territorial integrity. This decision, made by the EU Council on September 22, also extends the sanctions framework by an additional 36 months, now set to last until September 22, 2029.
The sanctions, originally imposed following Russia’s full-scale invasion of Ukraine in 2022, include asset freezes, travel bans, and prohibitions on making funds available to those listed. The latest review of the sanctions regime resulted in the decision not to renew the listings of Usmanov and Fridman, drawing criticism from Ukrainian officials.
Ukraine’s Foreign Minister, Andriy Sybiha, voiced strong disapproval, labeling the removal of the two businessmen from the sanctions list as unacceptable. Sybiha argued that the circumstances that initially warranted their inclusion have not changed, reflecting ongoing tensions between Ukraine and the European Union regarding the handling of sanctions against Russian individuals.
The EU’s decision to extend the sanctions for a longer period marks a shift towards providing greater stability to its sanctions framework, which had previously been renewed in shorter intervals. Despite lifting the sanctions on Usmanov and Fridman, the bloc maintains comprehensive individual and economic restrictions on Russia in response to its continued military actions in Ukraine.