EU Fails to Agree on Lifting Sanctions on Russian Oligarchs
EU countries failed to reach a final deal to remove Russian billionaires Alisher Usmanov and Mikhail Fridman from the sanctions list.
In Brief
- •EU countries failed to reach a final deal to remove Russian billionaires Alisher Usmanov and Mikhail Fridman from the sanctions list.
- •Diplomats said a provisional agreement was reached to extend sanctions for three years, but Latvia lodged a last-gasp objection.
- •France and Slovakia pushed for Usmanov to be removed from the blacklist, citing national security concerns.
- •Ukraine reacted furiously to the prospect of removing sanctions on the two Russian businessmen.
- •EU top diplomat Kaja Kallas urged member states to maintain sanctions targeting Russia over the war on Ukraine.
Why It Matters
The failure to agree on lifting sanctions on Russian oligarchs highlights the ongoing tensions within the EU over how to respond to Russia's invasion of Ukraine. The standoff over the sanctions could have significant implications for the stability of the EU's response to the conflict. Additionally, the dispute underscores the complex geopolitical dynamics at play, with both France and Ukraine advocating for increased pressure on Russia, while other EU members seek to balance national interests with broader sanctions policies.
Key Details
- Sanctions Extension
- 3 years
- Russian Oligarchs
- Alisher Usmanov, Mikhail Fridman
- EU Member States
- 27
- Sanctions Blacklist
- 3,000 individuals and entities
Context & Background
The EU has been grappling with how to extend sanctions on Russia over the Ukraine war, with tensions arising over the inclusion of specific individuals like Russian oligarchs. The sanctions regime has been a core pillar of the EU's response to Russia's invasion, aiming to deprive Moscow of funding and support.
What To Watch
EU ambassadors will meet again at 0600 GMT on Tuesday to try to hammer out an agreement.
Original Reporting & Sources
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