European Union diplomats are deadlocked over a high-stakes diplomatic maneuver that would lift sanctions on Russia-linked billionaires Alisher Usmanov and Mikhail Fridman in exchange for renewing restrictive measures on some 3,000 other individuals and entities tied to Moscow, according to reporting by Reuters.
The Diplomatic Impasse in Brussels
As EU envoys returned to the negotiating table on Tuesday, September 21, the bloc faced an acute internal fracture. The proposed agreement materialized after France and Luxembourg exerted pressure to carve out specific billionaires from the bloc’s restrictive lists, apparently for domestic reasons. While the compromise package aims to preserve the broader sanctions architecture for another three years, dissenting member states warn that cutting deals for elite oligarchs undermines the bloc’s united front against Moscow.
Negotiations among ambassadors in Brussels reached a critical inflection point on Monday evening when the text was circulated for formal approval. At least one member state, Latvia, declined to sign off immediately. A spokesperson for the Latvian Foreign Ministry noted that coordination among member states remains ongoing, emphasizing that any move must be a joint EU decision. Latvia previously initiated legal proceedings to keep Fridman and his business partner Petr Aven—a dual Russian-Latvian citizen—under active sanctions.
French and Luxembourgish Motivations Under Scrutiny
The push to dismantle targeted measures against specific oligarchs caught several European capitals off guard. Earlier this month, France aligned with Slovakia in advocating for the removal of sanctions against Russian-Uzbek metals and mining mogul Alisher Usmanov. Luxembourg subsequently demanded identical relief for Mikhail Fridman.
French officials indicated their stance on Usmanov stemmed from national security considerations and partner requests, following pressure linked to the detention of French nationals in Azerbaijan. Meanwhile, Luxembourg faced legal exposure: Fridman launched a $16 billion arbitration claim against the grand duchy. Luxembourg diplomats argued that maintaining sanctions on Fridman would be weakened if Usmanov secured delisting.
Both Usmanov, with an estimated net worth of $16.6 billion, and Fridman, valued at $10 billion according to the Bloomberg Billionaires Index, have contested their designations through legal action since the EU initially froze their assets and imposed travel bans following the 2022 invasion of Ukraine.
Kyiv and Baltic Capitals Sound the Alarm
The prospect of oligarch relief has drawn sharp rebukes from Ukrainian leadership and Eastern European member states. Ukrainian Prime Minister Sergii Koretskyi condemned the discussions amid relentless assaults, noting that Russian attacks killed 288 people and wounded 1,781 during the month alone. “Ukraine is under attack right now. Europe cannot treat Russia’s enablers as friends. Sanctions must stay. Full stop,” Koretskyi posted on X.
Frontline nations argue that capitulating to legal and diplomatic pressure sends a dangerous message of vulnerability. Lithuanian Foreign Minister Kestutis Budrys warned on the sidelines of the United Nations General Assembly that the compromise signals a dangerous willingness to entertain blackmail. Despite these vehement objections, proponents of the deal argue that securing unanimous consent to renew the broader sanctions regime against thousands of other entities necessitates difficult compromises.
As discussions continue in Brussels, the EU faces a profound test of its geopolitical resolve: balancing the administrative necessity of a renewed sanctions envelope against the moral and strategic cost of granting clemency to two of Russia’s most prominent financiers. What message does this uneasy compromise ultimately send to a continent still living in the shadow of war? Share your perspective in the comments below.
