EU Lifts Sanctions on Russian Billionaires Usmanov and Fridman Amid Ukrainian Outcry

The European Union has agreed to remove Russian businessmen Alisher Usmanov and Mikhail Fridman from its sanctions list, a decision that has drawn sharp criticism from Ukraine and some EU member states. The move came as EU ambassadors extended sanctions against approximately 3,000 other Russian individuals and organizations for an additional three years, shifting from a six-month review period to a three-year term. The consensus was reached after Latvia agreed to concessions, allowing the bloc to finalize the decision before the September 22 deadline, which would have seen all personal sanctions expire.

France reportedly initiated the removal of Usmanov, a dual citizen of Russia and Uzbekistan, citing "national security" concerns related to a planned deal to free French citizens detained in Azerbaijan. Luxembourg advocated for Fridman's removal, a Russian and Israeli citizen, in response to a $16 billion lawsuit he filed against the country over frozen assets.

Ukrainian President Volodymyr Zelenskyy strongly condemned the decision, stating it was "definitely not the time" to lift sanctions and "save Russian oligarchs" from them. He emphasized that Russia's continued escalation of the war should be met with stronger, not weaker, sanctions, and that each sanctioned individual represents a reason for the ongoing conflict and the daily killing of Ukrainians.

Ukraine's Foreign Minister Dmytro Kuleba echoed this sentiment, writing on X that Usmanov and Fridman were sanctioned due to their ties to the Russian regime, and nothing had changed. He called the sanctions removal unacceptable and a wrong signal to Moscow, advocating instead for stricter sanctions and expanded lists.

Usmanov, originally from Uzbekistan, is a prominent Russian businessman involved in metallurgy, mining, and telecommunications, notably as the largest beneficiary of USM Holdings. Fridman, born in Lviv, is a co-founder of Alfa Group and Alfa-Bank, and LetterOne. He had previously stepped down from LetterOne's board and management following EU and UK sanctions in March 2022, and reportedly returned to Moscow from London in late 2023 due to sanctions.