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EU to lift sanctions on Russia-linked Usmanov and Fridman, diplomats say - Finance news and analysis from Global Banking & Finance Review
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EU to lift sanctions on Russia-linked Usmanov and Fridman, diplomats say

Published by Global Banking & Finance Review

Posted on September 21, 2026

2 min read

· Last updated: September 21, 2026

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EU Set to Lift Sanctions on Russia-Linked Usmanov and Fridman, Diplomats Say

EU Sanctions Policy and Recent Developments

Agreement to Lift Sanctions on Usmanov and Fridman

BRUSSELS, Sept 21 (Reuters) - European Union envoys agreed on Monday to lift sanctions imposed over Russia’s war in Ukraine on businessmen Alisher Usmanov and Mikhail Fridman as long as no EU government objected to the move within the next few hours, diplomats said.

Renewal of Sanctions on Other Russian Entities

The agreement by ambassadors from the EU’s 27 countries came as part of a package deal to renew sanctions on thousands of other Russian individuals and entities for three years – much longer than usual rollover periods of six or 12 months - the diplomats said.

Push from France, Slovakia, and Luxembourg

To the surprise and anger of some EU countries, France this month joined Slovakia in pushing for the removal of Russian-Uzbek billionaire Usmanov from the sanctions list. Luxembourg then demanded the removal of Fridman, a Russian, according to diplomats.

Role of Azerbaijan and French Pressure

France urged the EU to lift sanctions on Usmanov after coming under what it said was pressure from Azerbaijan, which has detained at least two French nationals, three European diplomats told Reuters last week. A senior Azerbaijani diplomat on Friday rejected those assertions.

French Official Position

France has not publicly confirmed that it has pushed to lift EU sanctions – which involve a ban on travel to the bloc and a freeze on assets held in the EU – on Usmanov.

Background on Sanctions and Individuals Involved

The EU imposed sanctions on both men in 2022. In sanctioning Usmanov, the EU described him as having “particularly close ties” to Russian President Vladimir Putin.

Fridman's Legal Case and Luxembourg's Concerns

Fridman is claiming $16 billion from Luxembourg in a case that has gone to arbitration. EU diplomats said Luxembourg argued that its case to maintain EU sanctions on Fridman could be weakened if Usmanov were to be delisted alone.

(Reporting by Andrew Gray, Philip Blenkinsop; Editing by Kevin Liffey)

Key Takeaways

  • EU envoys on Sept 21 reached a provisional deal to delist Usmanov and Fridman in exchange for a rare 36‑month sanctions rollover, pending no objections from member states in the coming hours (euronews.com).
  • France and Slovakia pushed to remove Usmanov, with France acting amid alleged pressure tied to two detained French nationals in Azerbaijan—Azerbaijan denies such pressure (euronews.com).
  • Fridman, who is pursuing a $16 billion arbitration claim against Luxembourg over frozen assets, was included in the compromise at Luxembourg’s prompting to preserve its legal position (euronews.com)

References

Frequently Asked Questions

Why is the EU planning to lift sanctions on Usmanov and Fridman?
EU diplomats agreed to lift sanctions on Usmanov and Fridman as part of a package deal to renew other sanctions, with France and Luxembourg pushing for their removal.
What conditions must be met for the EU to lift these sanctions?
The sanctions will be lifted as long as no EU government objects within the designated timeframe.
What are the current sanctions imposed on Usmanov and Fridman?
Sanctions include a travel ban to the EU and a freeze on any assets held within the bloc.
When were sanctions on Usmanov and Fridman originally imposed?
The EU originally imposed sanctions on both men in 2022 following Russia’s invasion of Ukraine.
Which EU countries advocated for lifting the sanctions?
France and Slovakia advocated for removing Usmanov, while Luxembourg pushed for Fridman’s removal from the sanctions list.

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