The European Union signed an agreement on Tuesday to extend sanctions against about 3,000 Russian individuals, entities, and companies, but this agreement also led to the lifting of sanctions against two Russian oligarchs, Alisher Usmanov and Mikhail Fridman.
Extension of Sanctions for 36 Months
This agreement was reached after lengthy negotiations and just ahead of a deadline for extending the sanctions. A spokesperson for Ireland, which holds the rotating presidency of the European Union, announced: "This agreement includes an extension of the sanctions regime for 36 months, until September 22, 2029." Previously, the sanctions were extended for six months, so Tuesday's agreement allows the European Union to prevent the resurgence of disputes over sanctions for another three years.
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Ukraine's Reaction to the Lifting of Sanctions
Ukraine described the lifting of sanctions against Alisher Usmanov and Mikhail Fridman as "shameful and unjustifiable." Ukraine's Foreign Minister, Andriy Sybiha, wrote on social media: "Moscow is celebrating because it has achieved what it wanted: a sense of impunity, a humiliation of the European Union, and division among Europeans." Volodymyr Zelensky, the President of Ukraine, also stated that "wars end through determination and strength, not through concessions to the aggressor."
Zelensky also thanked Ursula von der Leyen, the European Commission President, for her "readiness to add more Russian names to the EU sanctions list."
Reasons and Consequences of Lifting Sanctions
France was one of the countries that called for the removal of Alisher Usmanov from the sanctions list. French officials linked this decision to concerns about "national security," but did not provide further details. According to reports, this request was related to a potential agreement regarding the possible release of French prisoners in Azerbaijan, whose regime is close to Usmanov.
On the other hand, the lifting of Fridman's sanctions was proposed by Luxembourg. Sources say this action was due to Fridman's lawsuit against Luxembourg for €15 billion ($17 billion) over his assets that were frozen due to EU sanctions.
Usmanov and Fridman are among the most prominent oligarchs in Russia, each with a fortune of $14 billion and $16 billion, respectively. They are both known for their close ties to Vladimir Putin.
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