Nearly four years into Russia's full-scale invasion of Ukraine, the European Union has removed two oligarchs with documented ties to Vladimir Putin from its sanctions register — a decision shaped less by legal principle than by bilateral bargaining among member states. France secured Alisher Usmanov's delisting through national security arguments linked to prisoner exchange negotiations, while Luxembourg sought relief for Mikhail Fridman's frozen assets after litigation. The episode lays bare a quiet but consequential truth: that collective resolve, however formally maintained, can be quietly
EU removes Russian oligarchs from sanctions list, drawing Ukraine's ire
Moscow is celebrating because it got what it wanted: impunity
Mark
Why would France and Luxembourg push to remove these two specifically? What changed?
Mimi
France cited national security concerns for Usmanov, though reporting suggests it was tied to prisoner negotiations with Azerbaijan. Luxembourg wanted Fridman's frozen assets released because he sued them. These aren't abstract principles—they're concrete disputes.
Luke
But we should note: the source doesn't explain what those national security concerns actually are. That's France's stated reason, but the real leverage seems to be the Azerbaijan deal, which is reported but not confirmed by the EU itself.
Mark
And Latvia just... gave in?
Mimi
Not exactly. Latvia held firm at first, blocking the vote. But then France offered security guarantees—nuclear deterrence talks, more military presence. That's when Latvia switched to abstaining, which allowed the compromise to pass.
Luke
Right, so Latvia didn't agree the oligarchs should be delisted. They traded their veto for something they wanted more. That's different from consensus.
Mark
What does Ukraine actually lose here?
Mimi
Symbolically, a lot. Sybiha said it signals impunity to Moscow—that the EU can be divided and negotiated with. Practically, two oligarchs get their assets back and can operate again.
Luke
Though we should be clear: the source doesn't detail what assets Usmanov and Fridman actually control or how much money we're talking about. We know they're wealthy, but the scale of what's being unfrozen isn't specified.
Mark
Is this the beginning of the EU backing away from Russia sanctions?
Mimi
It's hard to say. They extended sanctions on nearly 2,600 other people for three years, which is longer than before. So there's both a loosening and a tightening happening at once.
Luke
Exactly. The headline is "oligarchs removed," but the actual vote extended most sanctions. The question is whether this becomes a precedent—whether other countries start negotiating their own delistings.
Il Polso
- Two of Russia's most prominent oligarchs — Usmanov and Fridman — will have their frozen EU assets released despite their documented proximity to the Kremlin, reversing a cornerstone of post-2022 sanctions policy.
- Ukraine's Foreign Minister called the decision flatly unacceptable, warning that it delivers Moscow a gift of impunity and makes EU division visible to the world at a moment when unity is most needed.
- The deal was brokered through side negotiations: France offered Latvia nuclear deterrence talks and military commitments in exchange for Latvia shifting from opposition to abstention, revealing how security horse-trading shaped a sanctions outcome.
- The Kremlin welcomed the move immediately, with spokesperson Peskov arguing all Russians should be removed from EU lists — signaling how the decision will be weaponized as proof of Western fracture.
- A compromise extended restrictions on roughly 2,600 other individuals for three years, but Kyiv's call for member states to impose national sanctions suggests Ukraine no longer trusts the bloc to hold a unified line.
Nearly four years into Russia's full-scale invasion of Ukraine, the European Union has removed two oligarchs with documented ties to Vladimir Putin from its sanctions register — a decision shaped less by legal principle than by bilateral bargaining among member states. France secured Alisher Usmanov's delisting through national security arguments linked to prisoner exchange negotiations, while Luxembourg sought relief for Mikhail Fridman's frozen assets after litigation. The episode lays bare a quiet but consequential truth: that collective resolve, however formally maintained, can be quietly traded away in the corridors of alliance politics.
The European Union voted to remove sanctions on two Russian oligarchs with close ties to Vladimir Putin — Alisher Usmanov and Mikhail Fridman — unfreezing their assets and striking their names from the EU register. The decision came after sustained pressure from France, which cited national security concerns tied to prisoner exchange negotiations with Azerbaijan, and Luxembourg, which sought to resolve litigation over Fridman's frozen holdings.
Usmanov, a Russian-Uzbek billionaire who built his fortune through steel, telecommunications, and stakes in English Premier League clubs, had been designated a pro-Kremlin oligarch with particularly close ties to Putin when sanctions were imposed in 2022. Fridman, a founder of the Alfa Group conglomerate with major energy and banking holdings, was characterized by the EU as a top financier enabling Putin's inner circle. Neither man was accused of condemning the invasion.
Latvia, initially a firm opponent of the delisting, ultimately abstained after France agreed to open talks on Latvia joining a French nuclear deterrence initiative and to strengthen its military presence there — a concession that revealed how the sanctions question became entangled in broader alliance negotiations. As part of the broader compromise, restrictions on roughly 2,600 other individuals and entities were extended for three years.
Ukraine's Foreign Minister Andriy Sybiha condemned the outcome as unacceptable, warning it handed Moscow a sense of impunity and made EU divisions visible. He urged all member states to impose national sanctions on the two men. The Kremlin welcomed the development, with spokesperson Dmitry Peskov arguing the original sanctions had been illegal and calling for all Russians to be removed from EU lists.
The episode exposed the fragility of collective resolve: while thousands of other individuals remain sanctioned, the removal of two oligarchs with documented Kremlin proximity — achieved through bilateral security deals rather than principled consensus — suggested that the EU's unified front could be negotiated away, and that Kyiv had begun to draw the same conclusion.
The European Union voted to remove sanctions against two Russian oligarchs with deep ties to Vladimir Putin, a decision that ignited immediate fury in Kyiv and exposed fractures within the bloc over how to respond to Russia's invasion of Ukraine.
Alisher Usmanov and Mikhail Fridman—a Russian-Uzbek billionaire and a Russian-Israeli businessman respectively—will have their frozen assets unfrozen and their names struck from the EU's sanctions register. The move came after sustained pressure from France, which cited national security concerns in pushing for Usmanov's removal, and Luxembourg, which sought to free up Fridman's assets after he sued for their release. Latvia, initially opposed to the delisting, ultimately abstained from the vote on Tuesday after negotiating a compromise that included security guarantees and an extension of sanctions on roughly 2,600 other individuals and entities for three years—a longer duration than the previous six-month renewal cycle.
Usmanov built his fortune through USM Holding, an investment conglomerate controlling suppliers of iron, steel, and copper, along with the Megafon telecommunications company. He has held stakes in English Premier League clubs Arsenal and Everton. When the EU froze his assets in 2022, officials described him as a pro-Kremlin oligarch with particularly close ties to Putin. Usmanov contested the designation as unfair. Fridman, born in Ukraine but holding Russian and Israeli citizenship, founded the Alfa Group investment conglomerate with major holdings in energy and banking. The EU had characterized him as a top Russian financier enabling Putin's inner circle. Unlike some oligarchs, Fridman stopped short of condemning the invasion outright, instead calling for the conflict to end quickly.
Ukrainian officials responded with sharp condemnation. Foreign Minister Andriy Sybiha declared the decision unacceptable and warned that it handed Moscow exactly what it wanted: a sense of impunity, humiliation of the European Union, and visible division among member states. He called on all EU countries to impose their own national sanctions on the two men. Latvia, which had initially blocked the delisting, signaled it would follow through with unilateral measures.
The Kremlin welcomed the prospect. Spokesperson Dmitry Peskov claimed the EU's sanctions had been illegal all along and argued that all Russians should be removed from the list. The timing of France's push appeared linked to negotiations over a prisoner exchange with Azerbaijan, according to reporting. Latvia's shift from opposition to abstention came after France agreed to begin talks about Latvia joining a French nuclear deterrence initiative and to strengthen its military presence in the country—a concession that underscored how the delisting became entangled with broader security negotiations within the alliance.
The episode revealed the difficulty of maintaining unified sanctions pressure on Russia nearly four years into the full-scale invasion. While the compromise extended restrictions on thousands of other individuals and entities, the removal of two oligarchs with documented proximity to Putin sent a message that the EU's resolve could be negotiated away through bilateral deals and security sweeteners. Ukraine's insistence that member states act unilaterally suggested Kyiv no longer trusted the bloc to hold the line.
Citazioni salienti
Moscow is celebrating because it got what it wanted: a sense of impunity, the humiliation of the EU, and division among Europeans.— Andriy Sybiha, Ukrainian Foreign Minister
The EU's sanctions were illegal and all Russians should be removed.— Dmitry Peskov, Kremlin spokesperson
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