France and Luxembourg pushed for the removal of Usmanov and Fridman, respectively, with the latter having filed a $16 billion claim against Luxembourg. Latvian Prime Minister Andris Kulbergs initially opposed the deal, arguing that excluding the two billionaires from the blacklist would weaken European pressure on Moscow.
Wednesday, October 21, 2026
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EU Seals 3 Year Russia Sanctions Extension After Delisting Usmanov and Fridman
Geopolitics28 days ago
A diplomatic compromise allowed the European Union to keep Russia under international restrictions after a member state dropped its opposition. The bloc agreed to a 3 year sanctions regime on September 22, which removes Alisher Usmanov and Mikhail Fridman from the blacklist. Latvia had previously blocked the move, but dropped its veto hours before the deadline to prevent the current restrictions from expiring.
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