EU Removes Two Russian Billionaires From Sanctions List

The European Union has removed two Russian oligarchs, Alisher Usmanov and Mikhail Fridman, from its Russia sanctions list, according to a decision announced as the bloc faced a deadline to renew its broader sanctions framework.

The two billionaires have been delisted, meaning they are no longer subject to the restrictions the EU had placed on them. These sanctions were originally introduced to target individuals and entities accused of supporting Russia's war on Ukraine.

At the same time as delisting Usmanov and Fridman, the EU agreed to extend sanctions on nearly 3,000 other individuals and companies for a further three years, continuing measures that have been in place since the early stages of the conflict.

Ireland, which currently holds the rotating EU presidency, described the outcome as 'a difficult compromise' for the bloc. The phrase suggests that member states held differing views on how to handle the cases of Usmanov and Fridman before settling on the current arrangement.

Reaching agreement on sanctions policy within the EU often requires unanimous support from all member states, a process that can lead to prolonged negotiations and compromises, particularly on high-profile or contested cases.

The renewal of sanctions on almost 3,000 individuals and entities indicates that the EU intends to maintain significant economic pressure on Russia and those linked to the war effort, even as it makes individual exceptions in specific cases.

Sanctions of this kind typically include measures such as asset freezes and travel bans, and have been a central part of the EU's response to the conflict since it began. The bloc has periodically reviewed and renewed these measures, with decisions often made close to expiry deadlines.

The removal of Usmanov and Fridman marks a notable shift, given that both men have previously featured prominently among high-profile Russian businessmen targeted by Western sanctions regimes. No further details were provided regarding the specific reasoning behind their delisting.