Ukraine anger as EU removes Russian oligarchs from sanctions list

As reports indicate, prompting anger in Ukraine, the European Union is to remove sanctions on two oligarchs imposed after Russia's full-scale invasion of Ukraine in 2022.

Key points

• His Russian-Latvian business partner Pyotr Aven was stripped of Latvia's highest civilian honour in 2022 for failing to condemn the invasion of Ukraine.
• The EU froze his assets in 2022, describing him as "a pro-Kremlin oligarch with particularly close ties to Russian president Vladimir Putin".
• Fridman, a Russian-Israeli citizen born in Ukraine, is the founder of the Alfa Group investment conglomerate, with key interests in energy and banking.
• France had campaigned for Russian-Uzbek billionaire Alisher Usmanov to be taken off the list, citing "national security concerns".
• Latvia initially resisted the agreement but agreed to a compromise, part of which involved extending sanctions on almost 3, 000 other individuals and entities for three years.

France had campaigned for Russian-Uzbek billionaire Alisher Usmanov to be taken off the list, citing "national security concerns". Luxembourg pressed the removal of Russian-Israeli businessman Mikhail Fridman. This person is suing the country for the release of frozen assets.

Ukrainian authorities stated the move was "unacceptable" and sent the wrong signal to Moscow.

"Moscow is celebrating because it got what it wanted: a sense of impunity, the humiliation of the EU, and division among Europeans, " Foreign Minister Andriy Sybiha remarked on X.

He pressed all EU member states to instead announce national sanctions on the two individuals. Latvia has already remarked it would do so.

Kremlin spokesperson Dmitry Peskov earlier welcomed the prospect of the two oligarchs being taken off the list, claiming the EU's sanctions were illegal and all Russians should be removed.

Usmanov founded USM Holding firm, an investment group that owns iron, steel and copper suppliers, and the Megafon telecommunications business. He has previously had ties with the English Premier League clubs Arsenal and Everton.

For context, the EU froze his assets in 2022, describing him as "a pro-Kremlin oligarch with particularly close ties to Russian president Vladimir Putin". Usmanov remarked the decision was "unfair".

It has been documented that France's initiative was linked to a prospective prisoner release agreement with Azerbaijan.

Fridman, a Russian-Israeli citizen born in Ukraine, is the founder of the Alfa Group investment conglomerate, with key interests in energy and banking. The EU has described him as a top Russian financier and enabler of Putin's inner circle.

Fridman himself remarked at the time of Russia's full-scale invasion that the conflict should end as shortly as feasible, but avoided outright condemnation of President Putin.

This may have influenced Latvia's opposition to the move, vetoing it in a vote by EU ambassadors on Monday.

Nevertheless, on Tuesday it changed its vote to an abstention as a compromise was reached. The new accord involved extending sanctions on some remaining 2, 600 individuals and entities to three years. Until now, sanctions had to be renewed every six months.

Latvian Prime Minister Andris Kulbergs additionally unveiled that France had agreed to start discussions with Latvia concerning joining a French nuclear deterrence initiative and strengthen its military presence in Latvia.

In short, ukraine anger as EU removes Russian oligarchs from sanctions list is the central thread here, and readers can expect follow-up reporting as the picture becomes clearer.