EU Removes Two Oligarchs to Lock In a Longer Russia Sanctions Deal

The European Union removed Russian billionaires Alisher Usmanov and Mikhail Fridman from its Russia sanctions list while extending restrictions on nearly 3,000 individuals and companies accused of supporting the war on Ukraine for three more years. The Guardian

The decision was taken in Brussels on September 22. Renewal of Russia sanctions requires unanimity, meaning all 27 member states must approve. Without agreement, the entire listings package would have lapsed.

Instead of the usual six-month rollover, member states renewed the listings for 36 months. Senior EU officials promised about 1,600 new designations, or new names added to the list, for foreign ministers to consider next month. Unanimity gives every capital leverage. Latvia chose abstention, which allowed the package to pass without a yes vote.

France called for Usmanov to be removed on national security grounds. Its reported reason referred to a prisoner exchange deal involving French nationals and Azerbaijan. Luxembourg asked for Fridman to be removed. Fridman is suing Luxembourg for $16bn (£12bn) over freezing his assets.

Latvia raised a last-minute objection to the delistings, then agreed to abstain. Talks extended through September 21, when EU countries were still deliberating on the proposed deal. EU diplomats said Luxembourg argued that its case concerning EU sanctions on Fridman could be weakened if sanctions on Usmanov were lifted. Reuters

The legal histories of the two men differ. Usmanov failed in legal bids in EU courts to be delisted in both 2024 and 2025. Fridman won a major court case against Brussels in 2024. RFE/RL

The broader context here is procedural as much as political. A three-year extension reduces the frequency of veto points and limits recurring bargaining over the full list. For governments worried about courtroom exposure and enforcement costs, fewer renewal cycles mean fewer chances for a single objection to unwind the regime.

Looking at what this means for sanctions practice, the exchange is instructive. Two high-profile delistings secured unanimity for a longer and larger listings framework. The test will be whether the pledged 1,600 new designations materialize on schedule, and whether courts treat the political decision to delist as relevant to pending claims over frozen assets.