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EU Shocks Ukraine: Sanctions Lifted 💥 🤯

September 22, 2026 | Author

Europe

🎧 Audio Summaries
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🧠Quick Intel


  • The European Union is removing sanctions on Alisher Usmanov (USM Holding, including Megafon) and Mikhail Fridman (Alfa Group) following France’s campaign citing “national security concerns” and a prospective prisoner release deal with Azerbaijan.
  • Latvia initially opposed the deal but agreed to a compromise involving extending sanctions on approximately 3,000 other individuals and entities for an additional three years.
  • Ukraine’s officials deemed the sanction removal “unacceptable” and urged all EU member states to implement national sanctions on Usmanov and Fridman.
  • Kremlin spokesperson Dmitry Peskov welcomed the potential removal of the oligarchs, asserting the EU sanctions were “illegal” and advocating for the removal of all Russians from sanction lists.
  • The EU extended sanctions on 2,600 remaining individuals and entities to a three-year duration, previously requiring six-month renewals.
  • France’s initiative is linked to a potential agreement with Latvia to participate in a French nuclear deterrence initiative and strengthen the military presence in Latvia.
  • Pyotr Aven, Fridman’s business partner, lost Latvia’s highest civilian honor in 2022 for failing to condemn the invasion of Ukraine, influencing Latvia’s initial veto.

    • 📝Summary


    The European Union has reached a compromise, removing sanctions on Russian billionaire Alisher Usmanov, founder of USM Holding, and Mikhail Fridman, head of the Alfa Group investment conglomerate, following campaigns led by France and Luxembourg. Initially opposed by Latvia, a deal was struck extending sanctions on approximately 2,600 other individuals and entities for three years. Ukrainian officials expressed “unacceptable” concern, urging member states to independently impose sanctions. The move, linked to a potential prisoner exchange with Azerbaijan, has drawn criticism and a shift in Latvian policy, with Prime Minister Andris Kulbergs announcing discussions regarding a French nuclear deterrence initiative. The sanctions, implemented in 2022, targeted individuals with close ties to Russian President Vladimir Putin, and this latest development highlights ongoing tensions and shifting priorities within the EU’s response to the conflict in Ukraine.

    💡Insights

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    SANCTIONS RELAXATION AND ITS IMPLICATIONS
    The European Union is set to reverse course and remove sanctions on two prominent Russian oligarchs – Alisher Usmanov and Mikhail Fridman – following a protracted lobbying effort, primarily spearheaded by France. This decision, announced amidst ongoing tensions stemming from Russia’s invasion of Ukraine, has ignited significant anger and concern within Ukraine, with officials deeming it a detrimental signal to Moscow and a reinforcement of impunity. The initial rationale behind the sanctions, implemented in 2022, centered on designating these individuals as “pro-Kremlin oligarchs” with close ties to President Putin, effectively targeting key financiers supporting the Russian government’s war efforts. The shift in policy reflects a complex interplay of geopolitical considerations, including a potential prisoner exchange with Azerbaijan linked to France’s push for the sanctions removal, and highlights the challenges of maintaining a unified front against Russia within the EU.

    THE OLIGARCHS: BACKGROUND AND NETWORKS
    Alisher Usmanov, the founder of USM Holding, a diversified investment group with interests spanning iron, steel, copper supply, and telecommunications (specifically Megafon), has long been a figure of interest to Western authorities. Usmanov’s connections extend to prominent sports organizations, including his past involvement with English Premier League clubs Arsenal and Everton, illustrating the breadth of his influence. Mikhail Fridman, a Russian-Israeli citizen born in Ukraine, heads the Alfa Group investment conglomerate, a significant player in the energy and banking sectors. Fridman’s history includes a carefully worded statement following the invasion, advocating for a swift resolution while avoiding direct condemnation of Putin, a tactic that arguably contributed to the ongoing scrutiny of his activities. Furthermore, the actions of Fridman’s business partner, Pyotr Aven, who was stripped of Latvian honors for his lack of condemnation of the invasion, likely played a role in Latvia’s initial opposition to the sanctions rollback.

    COMPROMISE AND EXTENDED SANCTIONS
    Despite the removal of Usmanov and Fridman from the EU’s sanctions list, a significant portion of the original sanctions framework remains intact. The deal brokered between the EU member states involved extending sanctions on approximately 2,600 additional individuals and entities for a period of three years, a considerable increase from the previous six-month renewal cycle. Latvia, initially opposed, ultimately voted to abstain following negotiations with France, which also agreed to explore potential collaborations, including discussions regarding France's nuclear deterrence initiative and strengthening military presence in Latvia. Foreign Minister Andriy Sybiha strongly condemned the move, asserting that it would embolden Moscow and create divisions within the EU, urging member states to independently impose sanctions on the targeted individuals. Russia’s Kremlin spokesperson, Dmitry Peskov, welcomed the development, characterizing the previous sanctions as illegal and advocating for the removal of all Russian individuals from sanction lists.

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