- Hungary frequently raises objections to EU sanctions on Russia, while Latvian MEPs advocate for expanding sanctions against Russia.
- EU sanctions target Mikhail Fridman, prompting Latvia to lodge an objection and Kaja Kallas to urge the bloc to maintain sanctions.
EU lifts sanctions on Alisher Usmanov and Mikhail Fridman amid political demands
- Reports
- 9
- Developments
- 4
- Repetition
- 67%
New informationRepeats or wire copies
What happened
The European Union removed sanctions on Alisher Usmanov and Mikhail Fridman. This decision followed France's lobbying efforts and Latvia agreeing to drop its veto against the compromise. Luxembourg insisted that if Alisher Usmanov was removed, Mikhail Fridman should also be removed, citing Fridman's claim over frozen EU assets.
Why it matters
The removal of sanctions affects the legal status of high-profile Russian businessmen. Some Russian businessmen are studying the exemptions as a potential playbook for their own legal challenges, noting that investment arbitration can be an effective way to pressure governments into talks or delisting from sanctions.
EU sanctions targeting Mikhail Fridman prompted Latvia to lodge an objection, while other member states debated maintaining or expanding sanctions against Russia.
From moneycontrol.com
Who's involved
- Mikhail FridmanRussian businessman whose sanctions were removed and who filed a claim over frozen EU assets.
- LuxembourgWestern European country that insisted Mikhail Fridman be removed alongside Alisher Usmanov.
- BrusselsLocation where the high-stakes negotiations regarding the sanctions were held.
- LatviaSovereign state that agreed to drop its veto to allow the sanctions compromise.
- Alisher UsmanovRussian billionaire whose exemption from EU sanctions was secured through lobbying.
How this reaches others
Each traced step by step, with the reporting behind itHow it developed
Newest first. Tap a step to see who reported it.France's campaign helped secure Alisher Usmanov's exemption from EU sanctions.1 source
- The EU bloc agreed to remove sanctions on Alisher Usmanov and Mikhail Fridman, a deal brokered by Ireland.Sub-event
Luxembourg insists on Fridman's removal alongside Usmanov as he sues over frozen EU assets.1 source
Fridman filed a claim over frozen assets while Latvia opposed sanction renewal, amid EU negotiations.1 source
Keep exploring
The entities involved
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Mikhail Fridman
Russian–Israeli businessman, billionaire, and oligarch
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Luxembourg
country in Western Europe
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Brussels
municipality and capital city of Belgium
Related events
- A drone attack occurred at Leipzig airport, coinciding with calls from Slovakia and France regarding the delisting of sanctioned individuals like Alisher Usmanov and Mikhail Fridman.
- The Council of the European Union removed sanctions on Mikhail Fridman, while Bulgaria recorded the sharpest EU fuel price increase, amid a push led by France to remove oligarchs.
- Secret deals and arbitration suits involving Azerbaijan, Luxembourg, and Hong Kong regarding oligarchs' frozen EU mansions.
- Slovakia joins the push to delist Alisher Usmanov, with EU talks taking place in Brussels regarding his alleged support for Russia's war in Ukraine.
Coverage
Newest first; wire copies grouped- baltictimes.com
- moneycontrol.com
- hurriyetdailynews.com
- standardmedia.co.ke
- euronews.com
- hurriyetdailynews.com