Kyiv has expressed strong disapproval following reports that the European Union plans to drop two prominent Russian billionaires from its restrictive measures list. The decision has sparked sharp criticism from Ukrainian leadership, who argue that easing penalties on individuals linked to the Kremlin undermines Western unity and emboldens Moscow.
The targeted billionaires include Alisher Usmanov, a metals and telecommunications magnate who founded USM Holding, and Mikhail Fridman, co-founder of the Alfa Group conglomerate. Both men had their assets frozen by Brussels shortly after the large-scale military offensive launched against Ukraine in early 2022, with European authorities previously citing their close connections to Russian President Vladimir Putin.
Diplomatic pressure from specific member states paved the way for the policy shift. Reports indicate that France pushed for the removal of Usmanov, citing national security considerations, with suggestions that the initiative was tied to a potential prisoner release arrangement involving Azerbaijan. Meanwhile, Luxembourg advocated for the exclusion of Fridman, who holds dual Russian and Israeli citizenship and has initiated legal action against the grand duchy to unfreeze his assets.
Latvia initially resisted the compromise during discussions among EU ambassadors, maintaining a firm stance against the delisting. However, Riga ultimately shifted its position to an abstention after securing a broader agreement. As part of the compromise, sanctions targeting nearly 3,000 other individuals and organizations will be extended for a three-year period, replacing the previous requirement for mandatory six-month renewals. Latvian officials also indicated that Paris agreed to engage in discussions regarding a French nuclear deterrence initiative and enhanced military cooperation in the Baltic region.
Ukrainian Foreign Minister Andriy Sybiha condemned the development on social media, stating that the move provides Moscow with a dangerous sense of impunity and exposes divisions among European nations. He called on individual EU governments to implement national-level restrictions against the two billionaires. Responding to the appeal, Latvian authorities confirmed plans to pursue independent sanctions.
In Moscow, Kremlin spokesperson Dmitry Peskov welcomed the anticipated removal of the oligarchs, repeating earlier assertions that European restrictive measures are illegitimate and that all Russian nationals should be cleared from such lists. Both Usmanov and Fridman have previously contested the validity of the penalties imposed on them. While Fridman expressed a desire for the conflict to conclude following the 2022 escalation, he has refrained from issuing direct criticisms of the Russian president.
The policy adjustment highlights the complex diplomatic and security calculations facing European capitals as they balance broader geopolitical goals against maintaining a unified front on economic penalties. While the EU maintains thousands of existing restrictive measures against other figures, the decision to clear Usmanov and Fridman marks a notable shift in the implementation of the sanctions regime.
Reporting based on coverage first published by BBC News. Read the original report at BBC News.
