Full Breakdown
EU Lifts Sanctions on Russian Billionaires Amid Ukraine Backlash and Azerbaijan Prisoner Release
By Drooid · · How we work
Core Event
On September 23, the European Union voted to end asset freezes and travel bans on Russian-Uzbek metals tycoon Alisher Usmanov and Russian-Israeli conglomerate founder Mikhail Fridman. The move removed the two men from a sanctions list that had covered more than 3,000 individuals and entities since Russia’s full-scale invasion of Ukraine in 2022.
Background & Context
The EU’s sanctions regime has been renewed every six months, most recently extending restrictions on roughly 3,000 “individuals and entities” for three years. France and Luxembourg pressed for the delisting of Usmanov and Fridman as part of a broader diplomatic effort that coincided with Azerbaijan’s pardon of French national Martin Ryan, a prisoner convicted of espionage. French officials framed the request as a matter of national security, while several diplomats said Azerbaijan used the oligarchs’ cases to pressure Paris over detained French citizens.
Data & Statistics
- 3,000+ individuals and entities remain under EU sanctions related to the war in Ukraine.
- The EU has adopted 21 packages of sanctions since 2022.
- The foreign policy arm has proposed about 1,600 additions to the sanctions list for the next package.
- 20 people were pardoned by Azerbaijan’s President Ilham Aliyev on the same day, including Martin Ryan.
- Latvia initially blocked the delisting but later abstained, announcing it would impose its own measures on the two billionaires.
Criticism & Opposition
British financier Bill Browder warned that lifting sanctions would allow “every sanctioned Russian oligarch” to seek cooperation with “tin-pot dictatorships” to pressure future sanctions. Baltic states, particularly Latvia, voiced strong objections, arguing the move undermines support for Ukraine. Ukrainian officials expressed shock, with Vladyslav Vlasiuk, President Zelenskiy’s sanctions commissioner, stating he “couldn’t really believe it” and questioning whether delisting two high-profile oligarchs was worthwhile.
Verbatim Quotes
- “We adopted 21 packages of sanctions. And in parallel, we are also working on a new set of sanctions,” — Christian Wigand, foreign policy spokesperson
- “We keep a very strong united front on the sanctions on Russia,” — Benjamin Haddad, european affairs minister
Conflicting Reports & Gaps
- Motivation for delisting: French officials cite “national security” concerns, whereas multiple diplomats claim Azerbaijan leveraged the oligarchs’ cases to secure the release of French prisoners. Azerbaijan has denied using the businessmen as bargaining chips.
- Impact assessment: Think-tank fellow Guntram Wolff (Bruegel) argued the move would not materially affect the war in Ukraine but would send “a very negative signal” about the EU’s willingness to grant “dubious exemptions.” No consensus exists on how the delisting will influence Russia’s behavior or future EU sanction policy.
Why It Matters
The episode highlights emerging fissures within the EU over how far member states will prioritize national interests against a collective sanctions strategy. Ukraine’s leadership views the delisting as a breach of solidarity that could embolden Moscow, while France frames the compromise as a diplomatic win that secures the release of its citizen. The precedent of carving out high-profile exemptions may shape future negotiations on sanctions renewals and affect the EU’s credibility in sustaining pressure on Russia.