Key facts
- Ukrainian President Volodymyr Zelensky called the EU's potential failure to renew sanctions on Russian oligarchs "immoral and self-destructive."
- The EU must renew its sanctions by September 15, but failed to reach an agreement on September 11.
- Slovakia and France are advocating for the removal of sanctions against Russian oligarchs Mikhail Fridman and Alisher Usmanov.
- Fridman is a co-founder of Alfa-Group, and Alfa Insurance has reportedly serviced vehicles used by Russian forces in Ukraine.
- Usmanov made his fortune in metal and mining operations and was described as "one of Putin's favorite oligarchs" in the EU's 2022 sanctions decision.
- Extending EU sanctions requires a unanimous vote, with ambassadors set to convene again on September 14.
Ukrainian President Volodymyr Zelensky has sharply criticized the European Union for its perceived hesitation in renewing sanctions against Russian oligarchs and businesses, describing the potential move as "immoral and self-destructive." The EU faces a deadline of September 15 to extend its sanctions regime, which targets over 3,000 primarily Russian entities and individuals. However, member states failed to reach an agreement on September 11.
Slovakia has been a vocal opponent of the sanctions, specifically calling for the removal of oligarchs Mikhail Fridman and Alisher Usmanov from the list. For the first time, France has joined Slovakia in advocating for Usmanov's delisting, a move that has reportedly caused significant frustration among other EU member states. French officials are said to view Usmanov's delisting as a political compromise to secure Slovakia's agreement.
Zelensky directly named Fridman and Usmanov in a social media post on September 12, urging the EU to increase pressure on Russia's business sector rather than easing sanctions. He argued that it is inappropriate for Europe to consider Russian oligarchs as friends while Ukraine's economy is under attack and Russia uses its funds to finance the war. Fridman, a co-founder of Alfa-Group, has been linked to entities that have reportedly serviced Russian military operations. Usmanov, a businessman with significant holdings in metal and mining, was previously identified by the EU as a favorite of President Vladimir Putin.
An EU diplomat indicated that while a unanimous vote is required for the sanctions' renewal, there is a low risk of them expiring entirely. The most likely outcome, if an agreement is not reached by the deadline, would be a six-month extension instead of the desired 12 months. Ambassadors are scheduled to meet again on September 14 to attempt to finalize the decision.
Zelensky also implored the EU to consider Russia's ongoing attacks on Ukraine's economy, emphasizing that Russian businesses contributing to the war effort should not have a safe haven. He highlighted the daily drone assaults as evidence that now is not the time for easing sanctions.