Key facts
- Ukraine plans to sanction over 20 Russian oligarchs in response to the EU delisting Alisher Usmanov and Mikhail Fridman.
- Ukrainian Foreign Minister Andrii Sybiha described the move as an "asymmetric response" to the EU's decision.
- Canada has confirmed it will maintain its sanctions against Usmanov and Fridman.
- Ukraine is collaborating with the U.K., Japan, and Australia to keep Usmanov and Fridman sanctioned.
- The EU removed Usmanov and Fridman from its sanctions list on September 22, 2026, to secure a 36-month extension of the sanctions regime.
Ukraine is preparing to impose sanctions on more than 20 Russian oligarchs as a direct response to the European Union's decision to remove billionaires Alisher Usmanov and Mikhail Fridman from its sanctions list. Foreign Minister Andrii Sybiha announced the plan on October 1, stating that the list has been approved by President Volodymyr Zelensky and is being formalized.
Sybiha characterized the move as an "asymmetric response" to the EU's action, emphasizing Ukraine's efforts to prevent the delistings. "We fought until the last moment, both publicly and privately, to prevent this from happening," he told journalists. "You removed two oligarchs, and we will add twenty."
Canada has already informed Kyiv that it will not lift its own sanctions against Usmanov and Fridman. Ukraine is also actively engaging with the United Kingdom, Japan, Australia, and other international partners to ensure these two individuals remain subject to sanctions globally.
The EU had removed Usmanov and Fridman from its sanctions list on September 22, 2026. This decision was part of a compromise to extend the bloc's broader individual sanctions regime for 36 months, a shift from the previous six-month renewals that required constant unanimous agreement. The longer extension aims to reduce the frequency of politically sensitive renewal negotiations, during which individual member states have previously pressured for specific individuals to be removed.
France had advocated for Usmanov's removal, with Slovakia also involved in the negotiations. Latvia ultimately agreed to the delisting of both Usmanov and Fridman to prevent the sanctions regime from lapsing entirely.
Alisher Usmanov, who controls the mining and steel giant Metalloinvest, and Mikhail Fridman, founder of the Alfa Group conglomerate, are among Russia's wealthiest businessmen. Both were initially sanctioned by the EU following Russia's full-scale invasion of Ukraine due to their alleged ties to the Kremlin.