The European Union has agreed to lift sanctions on Russian oligarchs Alisher Usmanov and Mikhail Fridman, diplomats confirmed on Tuesday, September 22, 2026. The move comes after days of bitter opposition, with Latvia dropping its veto following a compromise deal led by France. The exemptions were granted despite opposition from Ukraine, which argued that the EU should instead increase pressure on Moscow.
The agreement prolongs the EU's sanctions on some 3,000 individuals and entities over the war in Ukraine for three years, until September 22, 2029. The list includes Russian President Vladimir Putin. A spokesman for Ireland, which holds the EU's rotating presidency, said the compromise involves an extension of the regime for 36 months. The decision to delist certain individuals was also taken, although details were not provided.
The push to remove Usmanov and Fridman from the blacklist was led by France and Luxembourg. Officials in Paris cited "national security" concerns for their request on Usmanov, but refused to provide details. A senior diplomat in Brussels said the demand was linked to a potential prisoner release deal involving French nationals held in Azerbaijan. Luxembourg pushed for Fridman to be removed, as he is suing the country for 15 billion euros ($17 billion) for freezing his assets under EU sanctions.
The move has been met with criticism from other EU member states, who argue that removing people for political reasons sets a dangerous precedent. One EU diplomat said it's "shocking that France is the one blocking it all." The Kremlin seized on the EU standoff, saying it backs taking Usmanov and Fridman off the blacklist and that the bloc should lift sanctions on "all Russian businessmen."
Metals tycoon Usmanov and banking magnate Fridman are among dozens of Russian businessmen suing the EU over the sanctions. Both were added to the sanctions list after Russia's invasion of Ukraine in 2022 over allegations that their businesses provided significant revenues to the Kremlin. The exemptions have been seen as a significant development in the ongoing tensions between the EU and Russia.
EU top diplomat Kaja Kallas insisted that the bloc needed "stability" by settling the future of its sanctions. Without the agreement, the EU risked seeing the sanctions lapse. The prolongation of sanctions for 36 months means the EU should skip this particular headache for the foreseeable future. The move comes as the EU seeks to balance its pressure on Russia with concerns from member states.
The decision to lift sanctions on Usmanov and Fridman has sparked mixed reactions. Ukraine has lashed out against the push, arguing that the EU should instead increase pressure on Moscow. The exemptions have also raised concerns about the potential for other individuals to be removed from the sanctions list for political reasons.
Key points
- The EU has agreed to prolong sanctions on Russia for 36 months, but will lift asset freezes and visa bans on oligarchs Alisher Usmanov and Mikhail Fridman.
- The move has been met with criticism from Ukraine, which argues that the EU should increase pressure on Moscow.
- The exemptions were granted despite opposition from some EU member states, who argue that removing people for political reasons sets a dangerous precedent.
