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Estonia says France must explain push to lift EU sanctions on Usmanov - Finance news and analysis from Global Banking & Finance Review
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Estonia says France must explain push to lift EU sanctions on Usmanov

Published by Global Banking & Finance Review

Posted on September 22, 2026

2 min read

· Last updated: September 22, 2026

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Estonia Urges France to Clarify Push for Lifting EU Sanctions on Usmanov

Controversy Surrounding France's Position on EU Sanctions

By John Irish

Background on EU Sanctions Decision

UNITED NATIONS, Sept 22 (Reuters) - France should explain itself after it pushed for the lifting of EU sanctions on Russian-Uzbek billionaire Alisher Usmanov, Estonia's foreign minister said on Tuesday, describing the move as sending the wrong signal at the wrong time.

European Union envoys agreed on Tuesday to drop two high-profile billionaires, Usmanov and Mikhail Fridman, from the EU's Russian sanctions list in a compromise deal to renew sanctions on roughly 3,000 other listed individuals and entities.

France's Push for Delisting

Earlier this month, France shocked other EU members when it pushed for Russian-Uzbek metals tycoon Usmanov to be removed from EU sanctions, citing national security concerns.

Estonia's Reaction and Concerns

"One country put a very strong position on the table that these two people must be delisted, otherwise we're actually losing the sanctions regime," Foreign Minister Margus Tsahkna told Reuters in an interview on the sidelines of the United Nations General Assembly. "This is a totally wrong message."

"They need to explain themselves. There was no deep explanation," he said.

External Pressures and Diplomatic Dynamics

France came under pressure from Azerbaijan, where at least two French nationals are detained, three European diplomats told Reuters last week.

They added that Paris had indicated in private that Baku was using Usmanov to "blackmail" it over the case of two French citizens held in Azerbaijan, an assertion rejected by Baku.

But there has been no public comment by the French presidency, which diplomats said had taken the lead on the dossier.

Implications for EU Unity and Sanctions Policy

Usmanov has long been associated with luxury assets in Western Europe, including property on the French Riviera, and was placed under EU sanctions in 2022 as one of Russia's wealthiest businessmen.

Multiple European officials said France's position had left them perplexed, hurt Paris' credibility and roiled efforts to present a united European front against Russia.

"The delisting is sending a very bad signal at a very wrong time when Russia is actually putting more pressure on Ukraine and attacking the civil infrastructure people," he said.

(Reporting by John Irish; Editing by Howard Goller)

Key Takeaways

  • France’s request to delist Usmanov surprised EU partners and was tied to securing the release of detained French nationals in Azerbaijan — a deal viewed as politically sensitive and raising credibility concerns among allies.
  • The compromise saw Usmanov and Mikhail Fridman removed from the sanctions list while extending sanctions on nearly 3,000 other individuals for 36 months to maintain the regime.
  • Estonia’s criticism underscores growing discomfort within the EU over using sanctions as tools in hostage diplomacy, especially as Russia intensifies military pressure on Ukraine.

Frequently Asked Questions

Why did France push for lifting EU sanctions on Usmanov?
France cited national security concerns when advocating for the removal of Russian-Uzbek billionaire Alisher Usmanov from the EU sanctions list.
How did Estonia react to France's action regarding EU sanctions?
Estonia's foreign minister criticized France's move, describing it as sending the wrong message at a critical time for the EU's stance against Russia.
What was the EU’s decision on sanctioned Russian billionaires?
EU envoys agreed to drop Usmanov and Mikhail Fridman from the sanctions list in a deal to renew restrictions on around 3,000 other individuals and entities.
Did France face pressure from other countries over sanctions?
Reports suggest France was pressured by Azerbaijan, as two French nationals are detained there, which may have influenced its position on Usmanov.
How has France's position affected EU credibility?
Multiple European officials stated that France's actions have hurt Paris' credibility and disrupted efforts to maintain a unified European stance on Russia.

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