EU drops two Russian oligarchs from sanctions list while extending regime for 3,000 targets

EU foreign ministers on 22 September approved the removal of Russian billionaires Alisher Usmanov and Mikhail Fridman from the sanctions list, simultaneously extending the sanctions regime that targets more than 3,000 individuals and entities until 22 September 2029. France secured Usmanov’s delisting in exchange for a pardon for a French citizen in Azerbaijan, while Luxembourg obtained Fridman’s removal after his $16 billion lawsuit against the state.

Because unanimity is required, Latvia withdrew its veto through a constructive abstention, allowing the extension after a brief seven-day stop-gap. The broader list, previously reviewed every six months, now remains in place for three years, preserving most restrictions despite the two high-profile deletions. Experts say such politically driven delistings raise concerns about the transparency and deterrent effect of EU sanctions, and the two oligarchs can now regain access to frozen assets and travel within the EU, though some members plan national sanctions and other jurisdictions have not changed their measures.