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The EU has removed Russian businessmen Alisher Usmanov and Mikhail Fridman from its sanctions list, allowing them to travel and manage assets in the bloc. The European Council extended sanctions against about 3,000 other Russian individuals and entities for three years; Usmanov and Fridman remain under U.S. and UK sanctions. The reasons and full legal details behind the EU delistings have not been fully established in the supplied report.
The European Union has removed Alisher Usmanov and Mikhail Fridman from its sanctions list, allowing the Russian businessmen to travel in the bloc and manage assets there, according to The Bell. At the same time, the European Council extended restrictions against about 3,000 other Russian individuals and businesses for three years, making the two delistings a notable exception in the EU’s sanctions policy.
The Bell reports that the delistings followed years of efforts by both men to challenge their inclusion on the EU list. Usmanov had faced restrictions since 2022, when the EU described him as a “pro-Kremlin oligarch.” Fridman also came under British and European sanctions in 2022. The source says he filed a €16 billion lawsuit against the government, though it does not detail the case’s status or any connection between the lawsuit and the EU’s decision.
The immediate practical effect is that the two men can again travel in Europe, conduct business within the EU and manage assets that had been blocked under the measures, The Bell says. For Fridman, the report identifies a possible route to reclaiming his stake in LetterOne, a Luxembourg-registered holding company with international assets. The precise legal steps required to release particular assets are not specified.
The report describes France as a key factor in Usmanov’s removal and says Luxembourg then moved to seek the lifting of restrictions on Fridman. It links the French intervention to Usmanov’s relationship with Azerbaijani President Ilham Aliyev and negotiations over the release of French nationals held in Azerbaijan. The Bell says Martin Ryan was released, while Anass Derraz remained jailed; it does not establish that the episode was the formal or sole basis for the EU delisting.
Two Delistings Amid a Wider Renewal
The decisions matter because EU sanctions can restrict travel, access to financial services and control over assets. Their removal may allow Usmanov and Fridman to resume activity in Europe, although the practical scope depends on the relevant asset and legal arrangements. The report says both men remain subject to U.S. and UK sanctions, so delisting by the EU does not remove restrictions imposed by those governments.
The contrast with the three-year extension for thousands of other targets also gives the decisions political weight. The Bell characterizes this as the longest single extension so far and says earlier EU discussions had considered renewals of six or 12 months. A long renewal keeps the broader measures in place, while the two individual removals show that the list can still change through political and legal processes.
The Bell argues that national interests may complicate agreement on future EU sanctions. It says France’s actions could encourage other governments to resist measures they see as harmful to their own interests, citing Greek and Maltese concerns about restrictions on Russian oil shipping and central European interests in Russian gas. That is the report’s assessment of potential consequences, not a confirmed account of how member states will vote in future.
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How the Delistings Developed
Usmanov built his wealth in mining and metals during the 1990s. The Bell says he owns 49% of USM, an investment group that controls Metalloinvest, described in the report as Russia’s largest iron ore producer, and telecoms company MegaFon. Hungary had sought to have him removed from the EU list since 2022, the report says. Following a change of government in Budapest, Slovak Prime Minister Robert Fico became a prominent political supporter, but The Bell reports that his backing alone did not secure the delisting.
Fridman also made his fortune in the 1990s. His former Alfa Group included Alfa Bank, retailer X5 and mobile operator VimpelCom. The Bell says Alfa Group and its partners received more than $8 billion in 2010 from selling a 25% stake in oil company TNK-BP to state-owned Rosneft, then used the proceeds to acquire international assets consolidated under LetterOne. Fridman later moved to London, where he was affected by British and European sanctions in 2022.
The wider EU renewal runs alongside the individual cases, rather than replacing them. According to The Bell, sanctions on about 3,000 Russian people and entities were extended for three years. The source does not provide the full list of affected targets or the detailed legal text of the renewal.
““pro-Kremlin oligarch””
— The European Union, as quoted in The Bell
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Legal Scope and Political Bargains
The available report does not include the EU’s formal decision documents or explain the detailed legal grounds for removing either man. It also does not establish whether the reported French-Azerbaijani discussions formed part of an official bargain, or whether they directly determined Usmanov’s case. The source says Ryan was released but Derraz remained imprisoned; the status and timing of any further negotiations are not provided.
It is also unclear which specific bank accounts, properties, yachts, aircraft or business interests can now be accessed, and how quickly any restrictions will be lifted in practice. EU delisting does not itself cancel U.S. or UK measures, which the report says remain in force. The exact implications for each asset and business relationship have not been set out.
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Asset Access and Sanctions Enforcement
The next developments to watch are the implementation of the EU delistings and any formal explanation from European institutions or national governments. Usmanov and Fridman may seek access to assets and business interests previously restricted in the bloc, but the timing and outcome will depend on legal and financial procedures. Fridman’s reported ability to reclaim a stake in LetterOne is a potential consequence, not a completed transfer confirmed in the source.
The three-year extension will keep the broader EU measures in effect while they remain in force, subject to any later changes. The report does not provide a schedule for further reviews or identify any planned votes. Both men’s positions under U.S. and UK sanctions remain separate matters, and the source gives no indication that those governments plan to lift their restrictions.
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Key Questions
Who has the EU removed from its sanctions list?
The Bell reports that the EU removed Russian businessmen Alisher Usmanov and Mikhail Fridman.
What can Usmanov and Fridman do after the EU delistings?
According to The Bell, they can travel in the EU, do business there and manage assets in the bloc that were subject to the EU restrictions. The precise access available for particular assets is not detailed.
Are they free of all Western sanctions?
No. The report says both men remain under U.S. and UK sanctions. The EU decision does not itself remove restrictions imposed by those governments.
What happened to sanctions on other Russian targets?
The European Council extended restrictions against about 3,000 other Russian individuals and businesses for three years, according to The Bell.
Why did the EU delist the two men?
The supplied report describes years of lobbying and says French support was key to Usmanov’s removal, followed by Luxembourg’s move concerning Fridman. It does not provide the EU’s formal legal reasoning or establish that reported diplomatic discussions were the sole cause.
Source: rss
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