EU Lifts Sanctions on Two Oligarchs to Renew Broader Regime

The European Union removed Russian billionaires Alisher Usmanov and Mikhail Fridman from its sanctions list on September 22, 2026, ending their asset freezes and travel bans. The decision was the result of a high-stakes compromise to prevent the expiration of the bloc's broader sanctions framework. In exchange for the delistings, member states agreed to extend sanctions on approximately 3,000 other individuals and entities for an unprecedented 36 months, lasting until September 2029.

The deal followed intense pressure from several member states. France pushed for Usmanov's removal, privately linking the move to the release of French nationals detained in Azerbaijan. Shortly after the decision, Azerbaijani President Ilham Aliyev pardoned Martin Ryan, a French citizen jailed for espionage. Luxembourg demanded Fridman's removal to avoid a $16 billion arbitration claim he had filed over frozen assets, while Slovakia also leveraged its veto to support the removals.

The agreement faced fierce opposition from Ukraine and the Baltic states. Latvia initially blocked the deal, with Prime Minister Andris Kulbergs arguing that pressure on the Kremlin must increase. Latvia eventually abstained to allow the wider package to pass, though it and Estonia announced they would impose separate national sanctions on the two men. Ukrainian officials condemned the move as shameful and a signal of impunity for Moscow. The event has sparked an internal EU debate over whether the unanimity requirement for sanctions makes the bloc vulnerable to political horse-trading.