European Union envoys agreed to remove Russian billionaires Alisher Usmanov and Mikhail Fridman from the sanctions list.
At the same time, the European Union will extend sanctions against about 3,000 other individuals and entities for another three years.
The agreement followed weeks of difficult negotiations among EU member states. Sanctions decisions require unanimous support from all member countries.
Latvia had remained the final obstacle to the agreement. However, diplomats said Latvia ultimately abstained, allowing the deal to move forward.
The decision still requires formal approval through a written procedure before it takes effect.
France backs Usmanov’s removal
Earlier this month, France surprised several EU members by supporting Usmanov’s removal from the sanctions list.
French officials cited national security concerns while arguing for the Russian-Uzbek metals tycoon’s delisting.
Usmanov has remained under EU sanctions since the bloc imposed restrictions following Russia’s invasion of Ukraine.
Meanwhile, Luxembourg pushed for similar treatment for Fridman, who has filed a $16 billion claim against the country.
The move to remove both billionaires came as EU governments negotiated the broader renewal of sanctions.
EU diplomats said the agreement maintains restrictions on thousands of other individuals and entities for an additional three years.
However, the final decision depends on the completion of the written procedure.
The development marks a significant change in the EU’s approach toward Usmanov and Fridman while maintaining sanctions against most listed Russian individuals and entities.
For the latest updates, visit and follow The Truth International website (www.thetruthinternational.com) and subscribe/follow the TTI YouTube Channel, Instagram, and Facebook
