Luxembourg and Latvia Push for Sanctions Delisting; Baltic States Impose National Measures
What happened
The European Commission removed individuals from sanctions lists, though the notice did not name them. Estonian officials identified two of the removed individuals as prominent Russia-linked businessmen, Alisher Usmanov and Mikhail Fridman, who were reportedly taken off the list at the request of Luxembourg and France for a 36-month extension of sanctions. Estonia and Latvia both abstained from the vote, leading to announcements that they would impose national sanctions on the two men.
From theepochtimes.com
Why it matters
The differing national responses to the European Commission's decision highlight internal friction regarding the unified financial regulatory framework. The move toward national sanctions challenges the EC's authority and suggests a potential fragmentation of EU sanctions policy.
From theepochtimes.com
Who's involved
- LuxembourgLuxembourg requested the delisting of individuals from sanctions lists.
- LatviaLatvia announced it would impose national sanctions on two businessmen.
- Alisher UsmanovAlisher Usmanov is one of the prominent Russia-linked businessmen targeted by national sanctions.
- Mikhail FridmanMikhail Fridman is the other prominent Russia-linked businessman targeted by national sanctions.
- EstoniaEstonia announced it would impose national sanctions on the two businessmen.
- European CommissionThe European Commission issued the notice regarding the removal of individuals from sanctions lists.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- EstoniaSpeculative
Estonia could face increased regulatory risk due to the divergence from the European Commission's sanctions policy.
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The entities involved
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Luxembourg
country in Western Europe
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Latvia
sovereign state in northeastern Europe
Related events
- EU sanctions target Mikhail Fridman, prompting Latvia to lodge an objection and Kaja Kallas to urge the bloc to maintain sanctions.
- Latvia holds leverage on the EU's unanimity requirement regarding the review of sanctions on Mikhail Fridman and Alisher Usmanov.
- EU divisions prevent broader sanctions on September 5th.
- Hungary frequently raises objections to EU sanctions on Russia, while Latvian MEPs advocate for expanding sanctions against Russia.
- Latvia condemns Russia's aggression against Ukraine and calls for sanctions against Russian missile production after meeting with UN Secretary-General António Guterres.