EU ambassadors have agreed to drop two billionaires from its Russian sanctions list and to extend the measures on the remaining 3,000 individuals and entities for three years. Envoys had earlier agreed to remove businessmen Alisher Usmanov and Mikhail Fridman in exchange for a three-year renewal but Latvia was the last hold-out in a fraught process that ended late Tuesday afternoon, an EU official told TVP World. A spokesperson for the EU’s presidency, currently held by Ireland, said they had reached a “difficult compromise” to maintain current sanctions on thousands of Russians. “The compromise will involve an extension of the regime for 36 months, until 22 September 2029,” the presidency spokesperson told TVP World. “Restrictive measures related to the Ukraine territorial integrity regime will therefore continue to apply to nearly 3,000 individuals and entities, with many more in the pipeline.” Three-year rollover Sanctions require the unanimous agreement of EU countries to be approved and previously, Russia designations were up for renewal every half year. “Until now, these listings have been reviewed and assessed on a 6 monthly basis; today’s decision to renew on a 36 month basis enhances the durability and predictability of the EU sanctions framework,” the spokesperson continued. “The decision was also taken to delist certain individuals under the regime.” Earlier this month, France shocked other EU members when it pushed for Russian-Uzbek metals tycoon Usmanov to be removed from EU sanctions, citing national security concerns. Luxembourg then demanded the same treatment for Fridman, who has launched a $16 billion claim against the country. Ukraine: It’s ‘unjustifiable’ Ukraine’s Foreign Minister Andrii Sybiha said the decision to delist the duo “is shameful and unjustifiable.” “Moscow is celebrating because it got what it wanted: a sense of impunity, the humiliation of the EU, and division among Europeans,” he wrote on X. “But there is still a way to spoil the celebrations in Moscow. I urge all EU member states to announce now that they will impose their own national sanctions on these two individuals,” Sybiha added. Latvia’s show of solidarity Confirming that the duo had been delisted as a result of the drawn-out negotiations in Brussels, an EU official told TVP World that Latvia had abstained during voting. The Baltic state’s government said it was opposed to removing Usmanov and Fridman from the blacklist. “Russia’s aggression against Ukraine has not diminished, so sanctions against the aggressor must be strengthened, not weakened. Latvia will continue to advocate for the imposition of additional EU sanctions on Russia,” Prime Minister Andris Kulbergs said in a statement. “Throughout the negotiation process with EU member state leaders, Latvia opposed the removal of politically motivated individuals from the individual sanctions list and was the only EU member state to do so until the very end,” he continued. “That was the morally correct stance, and our allies in Ukraine appreciated it.” The decision to roll the sanctions over will only be formally adopted once a process known as a written procedure has been completed. Includes reporting by Reuters
