EU Ambassadors Move to Delist Russian Oligarchs Usmanov and Fridman, but Latvia Blocks Agreement

On Monday, European Union ambassadors reached a tentative agreement to remove Russian businessmen Alisher Usmanov and Mikhail Fridman from the bloc's sanctions list, provided no member state objected within a specified period, according to diplomats cited by Reuters. The agreement was part of a broader package that renews sanctions against approximately 3,000 other Russian-linked individuals and entities for three years, significantly longer than the six- or twelve-month extensions the EU has traditionally used.

Both men were sanctioned in 2022 following Russia's invasion of Ukraine, with the EU citing Usmanov's "particularly close ties" to President Vladimir Putin. France had campaigned for Usmanov's removal this month, supported by Slovakia, though other member states expressed concern. Several European diplomats reported that France acted under pressure from Azerbaijan, which has detained at least two French citizens, with the Financial Times suggesting France sought the delisting to facilitate their release. The Azerbaijani government rejected this account, and France has not publicly confirmed any connection. Luxembourg separately demanded Fridman's delisting, arguing that removing Usmanov alone would undermine its position in an international arbitration case in which Fridman is claiming $16 billion from the country.

Ukraine's government had already declared the planned delisting "unacceptable" before the agreement was finalised. On Tuesday, Latvia's prime minister moved to block the deal, introducing fresh uncertainty just as the bloc's existing measures were extended by one week to prevent a lapse while the dispute continued.