The European Union has decided to remove Russian billionaires Alisher Usmanov and Mikhail Fridman from its sanctions list, while extending punitive measures against over 3,000 individuals and entities associated with threats to Ukraine’s territorial integrity until September 22, 2029. This decision was made during a recent review of the sanctions regime, initially imposed following Russia’s 2022 invasion of Ukraine.
The EU Council’s extension of the sanctions for a further 36 months includes asset freezes, travel restrictions, and a prohibition on making funds available to listed individuals and entities. The decision not to renew the listings of Usmanov and Fridman drew criticism from Ukraine, with Foreign Minister Andriy Sybiha expressing disapproval, stating that the grounds for their initial inclusion had not changed.
The European Union aims to provide greater stability within its sanctions framework by extending the measures for a longer period compared to previous shorter intervals. Despite the removal of the two Russian businessmen, the EU continues to uphold extensive individual and economic restrictions against Russia, maintaining a firm stance over the ongoing conflict in Ukraine.