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EU ambassadors agree to lift sanctions on two Russian oligarchs, extend others for three years

EU ambassadors agree to lift sanctions on two Russian oligarchs, extend others for three years

Rule Changes

EU keeps Usmanov and Fridman off its list, then adds 1,569 Russia-linked designations

October 12th, 2026: Council adds 1,569 Russia-linked listings

Overview

Updated Oct 22

The European Union removed Alisher Usmanov and Mikhail Fridman from its sanctions list on Sept. 22 and renewed restrictions on 2,998 other people and entities through September 2029. Estonia and Lithuania then imposed their own sanctions on the two men, and Ukraine said it would add 20 more Russian oligarchs to its list.

On Oct. 12 the Council added 1,569 people and entities tied to Russia's military-industrial complex, plus 77 individuals over the Duma elections held in occupied Ukrainian territory. EU foreign policy chief Kaja Kallas said on Oct. 5 that she did not see the two oligarchs returning to the list "anytime soon."

Why it matters

The pact frees Usmanov and Fridman to move money and travel across the EU, and locks three years of sanctions on thousands of others.

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Key Indicators

2
Russian oligarchs delisted
Alisher Usmanov and Mikhail Fridman were removed from the EU sanctions list under the Sept. 22 agreement.
2,998
Listings renewed for three years
Kaja Kallas said 2,998 sanctions listings now run until Sept. 22, 2029 instead of being rolled over every six months.
36 months
Extension period for sanctions
The renewal runs three times longer than the usual six-month cycle, until September 2029.
1,569
Listings added on Oct. 12
The Council added 826 entities and 743 individuals identified with Russia's military-industrial complex, plus 77 people tied to the Duma elections in occupied territory.
20
Oligarchs Ukraine plans to sanction
Ukrainian Foreign Minister Andrii Sybiha said Kyiv had prepared more than 20 new names and would seek to have Usmanov and Fridman relisted.

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People Involved

Alisher Usmanov
Alisher Usmanov
Russian-Uzbek billionaire, founder of USM Holdings
Removed from EU sanctions on Sept. 22; still subject to Estonian and Lithuanian national sanctions
 Mikhail Fridman
Mikhail Fridman
Co-founder of Alfa Group (banking, investments)
Removed from EU sanctions on Sept. 22; still subject to Estonian and Lithuanian national sanctions
 Andris Kulbergs
Andris Kulbergs
Prime Minister of Latvia
Latvia abstained on Sept. 22, clearing the sanctions deal
 Kaja Kallas
Kaja Kallas
EU High Representative for Foreign Affairs and Security Policy
Said on Oct. 5 that reinstating Usmanov and Fridman is not likely soon
 Andrii Sybiha
Andrii Sybiha
Foreign Minister of Ukraine
Seeking reinstatement of the two oligarchs and 20 new Ukrainian listings

Organizations Involved

Council of the European Union
Council of the European Union
EU intergovernmental body
Adopted the delistings and 36-month renewal on Sept. 22, then 1,569 new Russia-linked listings on Oct. 12

The Council represents the 27 member states and must approve sanctions unanimously.

Timeline

September 2026 October 2026

14 events Latest: October 12th, 2026 · 1 month ago Showing 8 of 14
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  1. Council adds 1,569 Russia-linked listings

    Latest Policy

    Two implementing regulations added 826 entities and 743 individuals identified with Russia's military-industrial complex. A third added 77 people tied to the Duma elections held in occupied Ukrainian territory.

  2. Kallas: no reinstatement of the two oligarchs 'anytime soon'

    Diplomacy

    The EU's foreign policy chief said she did not see Usmanov and Fridman returning to the list soon, while noting member states can still propose names. She said 2,998 listings now run for three years.

  3. Ukraine moves to add 20 oligarchs and seek reinstatement

    Policy

    Foreign Minister Andrii Sybiha said Kyiv had prepared more than 20 new oligarch names and would press for Usmanov and Fridman to be relisted. He said Canada, the UK, Japan and Australia had confirmed they would keep both men on their lists.

  4. Ambassadors reconvene to finalize; sanctions expire at midnight

    Deadline

    Coreper II scheduled another meeting at 8 a.m. Brussels time. Without unanimous approval, the entire list lapses at midnight.

  5. Latvia abstains, clearing sanctions renewal

    Diplomacy

    EU ambassadors finalized the deal at a 4 p.m. meeting. Latvia, the last holdout, agreed to abstain; Belgium, Estonia and Lithuania also abstained. Usmanov and Fridman were delisted, and the remaining listings renewed until Sept. 22, 2029.

  6. EU formally adopts sanctions renewal and delisting

    Policy

    The Council of the EU approved the delisting of Usmanov and Fridman and the 36-month renewal of remaining listings via written procedure. The Council's announcement said three individuals and one entity were removed, including Usmanov and Fridman.

  7. Latvia announces national sanctions on delisted oligarchs

    Policy

    Latvia said it will apply its own sanctions on Usmanov and Fridman after abstaining in the EU vote.

  8. Estonia abstains, plans national sanctions on delisted oligarchs

    Policy

    Estonia abstained from the EU vote. Its foreign minister said Tallinn will impose national sanctions on Usmanov and Fridman.

  9. EU prepares sanctions package on Russia's military-industrial complex

    Policy

    The Irish Presidency said the EU is preparing sanctions against 1,600 individuals and entities linked to Russia's military-industrial complex, aiming for adoption at the EU Council meeting on Oct. 12.

  10. Kyiv condemns delisting as a signal to Moscow

    Reaction

    Ukraine's government said removing Usmanov and Fridman sent the Kremlin the wrong message. Both men have close ties to President Vladimir Putin.

  11. Provisional deal to delist Usmanov and Fridman

    Diplomacy

    EU ambassadors agree in principle to remove the two oligarchs and renew the rest for 36 months, pending no objections within hours.

  12. Latvia blocks provisional sanctions deal

    Diplomacy

    Latvian Prime Minister Andris Kulbergs said Latvia cannot accept the offer to delist Usmanov and Fridman in exchange for the 36-month renewal. The provisional agreement failed final approval Monday evening.

  13. Temporary seven-day extension adopted

    Policy

    EU keeps sanctions on nearly 3,000 individuals and entities alive for seven days while negotiations continue.

  14. Estonia and Lithuania impose national sanctions on the two oligarchs

    Policy

    After abstaining in the EU vote, Estonia and Lithuania applied their own measures to Usmanov and Fridman. Latvia said it would pursue national sanctions too.

Scenarios

1

EU formally adopts deal, delists two oligarchs

Deadline passed (Q3 2026)

Discussed by: Reuters, diplomats, Kyiv Independent

No member state objects within the window. Ministers adopt the decision, the Council publishes it in the Official Journal, and Usmanov and Fridman come off the sanctions list. The other 3,000 listings are renewed for 36 months, pushing the next renewal to 2029.

2

Objection blocks deal, sanctions list lapses

Deadline passed (Sep 23, 2026)

Discussed by: Ukraine, Poland, Baltic states (opponents)

A member state vetoes the package within the hours left. No compromise is reached, and because unanimity is required, the entire sanctions list for roughly 3,000 individuals and entities expires at midnight on September 22. The EU would have to rebuild the list from scratch, a lengthy and uncertain process.

3

EU and Latvia reach a modified compromise

Deadline passed (Sep 23, 2026)

Discussed by: Reuters, Euronews

Kulbergs said the 36-month extension is the right step but refused to trade it for the two delistings. A revised deal could keep one or both men on the list, or attach new conditions, to win Latvia's vote before the midnight deadline.

4

Written procedure completes, delisting takes effect

Deadline passed (Sep 22, 2026)

Discussed by: EU diplomats via Politico, TVP World

National ministers submit written consent by 6 p.m. Tuesday. The Council publishes the updated list, formally delisting Usmanov and Fridman and renewing the remaining listings until Sept. 22, 2029.

5

Ukraine and Baltic states push for national sanctions on delisted oligarchs

Deadline passed (Oct 15, 2026)

Discussed by: Kyiv, Latvia, Lithuania

After the EU delisting, Latvia has already pledged national sanctions on Usmanov and Fridman. Ukraine and other Baltic states may follow, applying asset freezes and travel bans at the national level to offset the EU decision.

6

EU adopts next Russia sanctions package in October

Deadline passed (Oct 12, 2026)

Discussed by: Irish Presidency of the Council of the EU (via Agence Europe)

The EU aims to approve sanctions against 1,600 individuals and entities linked to Russia's military-industrial complex at the EU Council meeting on Oct. 12. The package would expand the bloc's sanctions reach beyond the current listings.

7

EU puts Usmanov and Fridman back on the sanctions list

Unlikely Resolves by Sep 22, 2027

Discussed by: Kaja Kallas; Ukrainian Foreign Minister Andrii Sybiha

Kyiv has said it will push for the two men to be relisted. Kallas said on Oct. 5 that she did not see that happening soon, although member states remain free to submit names.

Historical Context

2 moments from history that rhyme with this story — and how they unfolded.

July 2026

EU sanctions renewal concessions (July 2026)

When the EU renewed sectoral sanctions on Russia in July, it passed only after Greece won an exemption for its LNG carriers and Patriarch Kirill was left off the list. The package was a sectoral text, renewed for 12 months.

Then

Sanctions were renewed, but member states showed they could extract concessions for their votes.

Now

Set a precedent that unanimity is a bargaining chip; the September renewal saw France and Slovakia make similar demands on individual listings.

Why this matters now

Demonstrates the recurring mechanism: any member state can block a sanctions renewal to win a favor, which is exactly how the Usmanov and Fridman delistings emerged.

2014-2015

EU sanctions on Russia after Crimea (2014)

After Russia annexed Crimea, the EU imposed asset freezes and travel bans on dozens of officials and oligarchs, renewing them every six months. Each renewal required unanimous approval, and some members used it to raise unrelated issues.

Then

Sanctions were renewed repeatedly, but each cycle became a negotiation.

Now

Established the pattern of short renewal windows that forces regular unanimity votes, allowing any one member state to hold the rest hostage.

Why this matters now

The current standoff is a direct descendant: a 36-month extension is an attempt to break the six-month veto cycle that has repeatedly enabled such brinkmanship.

Sources

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Reuters Kyiv Independent France 24 Politico Euronews Grosswald Hindustan Times RFE/RL Hamburger Anzeiger ThePrint (Reuters) EUobserver TVP World EU Perspectives RFI bne IntelliNews Agence Europe ABC News The Epoch Times The Edge Malaysia BBC News Ukrainska Pravda Ukrinform Covington & Burling LLP McDermott Will & Emery Kyiv Independent Reuters Euronews Kyiv Independent Politico Euronews Euronews Reuters Euronews