Ukraine anger as EU removes Russian oligarchs from sanctions list

What Happened

The European Union has moved to remove sanctions on Russian-Uzbek billionaire Alisher Usmanov and Russian-Israeli businessman Mikhail Fridman, both of whom were sanctioned following the 2022 Russian invasion of Ukraine. France advocated for the removal of Usmanov citing national security concerns, while Luxembourg sought the removal of Fridman, who is currently suing the country for the release of frozen assets. Latvia initially vetoed the decision but shifted to an abstention after securing a compromise that extends sanctions on approximately 2,600 other individuals and entities for three years and includes French commitments to discuss military cooperation and nuclear deterrence initiatives with Latvia. Ukrainian Foreign Minister Andriy Sybiha condemned the decision as unacceptable, arguing it signals impunity to Moscow.

Key Actors

Why It Matters

The decision highlights internal divisions within the European Union regarding the efficacy and political cost of its sanctions regime against Russian elites. The move has strained diplomatic relations with Ukraine, which views the removal of sanctions as a weakening of the collective pressure exerted on the Russian leadership and its financial enablers.

Watch For

Monitor whether individual EU member states, such as Latvia, follow through on pledges to impose national-level sanctions on Usmanov and Fridman. Additionally, observe if the French-Latvian security talks result in a formal agreement regarding military presence and nuclear deterrence, and track the broader impact of the new three-year sanctions renewal cycle on EU policy cohesion.