EU drops sanctions on Russian businessmen Usmanov and Fridman
The European Union has agreed not to renew sanctions against Russian businessmen Alisher Usmanov and Mikhail Fridman, while extending restrictions on nearly 3,000 other individuals and entities for three years.
European Union member states have agreed not to renew sanctions against two prominent Russian-born businessmen, Alisher Usmanov and Mikhail Fridman, Reuters reports.
Removing the two from the sanctions list was part of a compromise that allowed the bloc to extend restrictions on nearly 3,000 Russian individuals and entities all at once for a full three years, until September 2029. Previously, EU sanctions were renewed every six or twelve months.
Different motives behind the decision
France pushed for Usmanov's removal from the list amid pressure from Azerbaijan, where two French citizens are currently held in custody.
Luxembourg, meanwhile, supported removing Fridman, who has filed a $16 billion lawsuit against the country over his frozen assets.
Consequences of the deal
As a result of the agreement, both Usmanov and Fridman will have their asset freezes lifted and the ban on entering the European Union removed.
