EU Sanctions Talks Stall Over Oligarch Delisting

EU ambassadors are scheduled to meet on September 21 to decide whether to lift sanctions on Russian-Ukrainian billionaire Alisher Usmanov and Russian-Israeli financier Mikhail Fridman. The proposal ties their delisting to a package that would extend sanctions on roughly 3,000 other Russian individuals and entities for 36 months—far longer than the usual six- or twelve-month renewals. The deal would take effect only if no member state objects within a few hours of the meeting.

Politico Europe

The European Union imposed personal sanctions on Usmanov and Fridman in 2022, shortly after Russia’s full-scale invasion of Ukraine. Both men have contested the sanctions in court and arbitration. Usmanov, an Uzbek-born metals tycoon, is described by the EU as having “particularly close ties” to President Vladimir Putin. Fridman, co-founder of the Alfa Group, is pursuing $16 billion in arbitration against Luxembourg over frozen assets.

The Straits Times

• ? 3,000 individuals and legal entities targeted in the broader sanctions regime.

Two High-Profile Names to Be Removed from the EU Sanctions List: What 27 Countries Agreed Upon

• Proposed renewal period: 36 months (vs. prior 6- or 12-month extensions).

Euronews

• Fridman’s arbitration claim: $16 billion against Luxembourg.

EU agrees to lift sanctions on billionaires Usmanov and Fridman

• Sanctions on Usmanov and Fridman have been in place since 2022.

EU agrees to lift sanctions on billionaires Usmanov and Fridman

French diplomats have cited “national security concerns” for pushing Usmanov’s removal, a claim linked by several diplomats to pressure from Azerbaijan over detained French nationals. Luxembourg’s representatives argued that delisting Usmanov alone would weaken their legal case against Fridman, prompting a demand for his simultaneous removal. EU officials repeatedly stressed that the sanctions regime must not lapse, insisting on a unanimous extension.

The Straits Times

• Andriy Sybiga, Ukraine’s foreign minister, called the proposed delisting “unacceptable” and warned it would send the “wrong signal to Moscow.”

Euronews

• Taurimas Valys, Lithuania’s finance minister, expressed strong scepticism about any easing of sanctions, arguing that it would appear as EU weakness and could embolden Russia.

Euronews

• Poland, the Baltic states, and Latvia lodged objections, with Latvia filing a “last-gasp” objection that blocked final approval.

Euronews

• Several member states warned that removing high-profile oligarchs could set a dangerous precedent for future sanctions decisions.

Politico Europe

Sources differ on whether a provisional agreement was reached on September 21. Some outlets report that ambassadors had a tentative deal to delist both oligarchs in exchange for the 36-month extension, while others state that the final approval failed after Latvia’s objection, leaving the outcome unresolved. The precise motivations behind France’s push—whether solely national-security-driven or tied to negotiations with Azerbaijan—remain unconfirmed, as French officials have not publicly detailed their rationale.

France 24

• “Regarding any loosening of sanctions, we're very sceptical,” — Taurimas Valys

Euronews

• “Russia should understand that we are united,” — Taurimas Valys

Euronews

• September 21 (scheduled) – EU ambassadors convene to vote on the delisting proposal.

Politico Europe

• September 22 (scheduled) – Temporary extension of the existing sanctions regime expires if no agreement is reached.

Euronews

Diplomats indicated that a follow-up meeting will occur on Tuesday morning to attempt a final resolution. The EU’s ability to secure a unanimous 36-month renewal while addressing the divergent positions of France, Luxembourg, and the dissenting member states will determine whether the sanctions on Usmanov and Fridman are lifted or remain in force.

The Straits Times