The European Union has agreed to remove Russian billionaires Alisher Usmanov and Mikhail Fridman from its sanctions list. This decision was a compromise to ensure the extension of restrictions on nearly 3,000 other individuals and entities accused of supporting the war in Ukraine for the next three years.
The agreement followed a period of negotiation where EU envoys initially failed to reach a final deal on Monday. The process required unanimous approval from all 27 member states, and the deal was finalized on Tuesday after Latvia dropped its veto. Ireland's EU presidency described the outcome as a difficult compromise needed to preserve the blacklist before a looming deadline.
The push to lift sanctions on the two businessmen came from France and Luxembourg. France specifically sought the removal of Alisher Usmanov as part of a prisoner release arrangement with Azerbaijan.
Ukraine has condemned the move, with Kyiv labeling the decision to exempt the billionaires as unacceptable, shameful, and unjustifiable.