Alisher Usmanov has been removed from the European Union's sanctions list

2 hours ago

The European Union has agreed to lift restrictions against two billionaires, including Alisher Usmanov, from the sanctions list against Russia, and to extend sanctions against the remaining 3,000 individuals and legal entities for three years. This came after Latvia withdrew its veto, EU officials announced on September 22.

Earlier, EU officials had agreed to remove Russian billionaires Alisher Usmanov and Mikhail Fridman from the list in exchange for extending the sanctions for three years. However, Latvia had blocked this.

Unanimous consent from all EU member states is required to approve sanctions. Previously, restrictions related to Russia were extended every six months. Diplomats said that in the end, Latvia abstained, which paved the way for the agreement to be adopted.

The relevant decision will officially enter into force once the process known as the written procedure is fully completed.

Earlier, Lithuanian Finance Minister Taurimas Valis commented on the situation, saying that removing Alisher Usmanov from the sanctions list could make the European Union look weak. In early September, France, citing national security, proposed removing Alisher Usmanov, a metallurgical tycoon of Uzbek origin, from EU sanctions.

This step surprised other EU members. Following this, Luxembourg also demanded that a similar approach be applied to Fridman, who had filed a $16 billion lawsuit against it.