EU Drops Sanctions on Russian Oligarchs – Ukraine Reacts

Wed Sep 23 2026 18:19:00 GMT+0000 (Coordinated Universal Time)

The EU has decided to lift sanctions on two high‑profile Russian businessmen, sparking anger in Ukraine and prompting criticism across Europe.

The European Union has removed sanctions on Alisher Usmanov and Mikhail Fridman, two Russian oligarchs, a move that has enraged Ukrainian officials. France and Luxembourg were key drivers behind the decision, citing national security concerns and business ties. Ukraine claims the action signals an undesired blip in its war with Russia, while some EU member states push for national sanctions to counter it. The Kremlin welcomed the change, describing EU sanctions as illegal, while Latvia agreed to extend sanctions on other entities for three years as a compromise.

EU Drops Sanctions on Russian Oligarchs – Ukraine Reacts

The European Union has removed sanctions on two high‑profile Russian businessmen, Alisher Usmanov and Mikhail Fridman, a move that has stirred outrage in Kyiv.

France urged the removal of Usmanov, citing "national security concerns", while Luxembourg pushed for Fridman to be delisted. Ukraine’s foreign minister, Andriy Sybiha, blasted the decision as "unacceptable" and warned it could embolden Moscow.

The sanctions were originally imposed after Russia’s invasion of Ukraine in 2022. The EU said the two oligarchs had close ties to President Putin and were part of the Kremlin’s inner circle.

Latvia, which had opposed the change, accepted a compromise that will extend sanctions on roughly 2,600 other entities for three years. The agreement was reached after discussions about adding Latvia to France’s nuclear deterrence initiative.

Kremlin spokesperson Dmitry Peskov welcomed the removal, calling EU sanctions illegal and demanding a wider shift against Russian financiers.

For further details, you can view the EU sanctions list here.