Sanctions — 2026-09-22

EU Fails to Finalize Russia Sanctions Deal as Latvia Blocks Proposed Compromise to Delist Russian Billionaires

BLUFLatvia's holdout will likely resolve within 48 hours, as no member state is prepared to let sanctions on 3,000 Russia-linked targets lapse over two billionaires' delisting.

EU ambassadors failed to finalize a deal Monday to lift sanctions on Russia-linked billionaires Alisher Usmanov and Mikhail Fridman, with talks set to resume Tuesday hours before a renewal deadline 12. The proposed package, sent to member states for approval Monday evening, would remove the two men from sanctions lists while extending restrictions on roughly 3,000 other Russia-linked individuals and entities for three years instead of the usual six or 12 months 3. Latvia declined to sign off, with the Latvian Foreign Ministry stating positions were "still being coordinated" 34. Latvia has previously pursued legal action to keep Fridman and his business partner Petr Aven under sanctions 3. France and Slovakia pushed for Usmanov's removal this month, followed by Luxembourg seeking the same for Fridman, prompting objections from the Baltic states and Ukraine 23.

Analysis
EU ambassadors likely reach unanimous agreement to renew the Russia sanctions package within 48 hours, resolving the Usmanov/Fridman delisting dispute before Tuesday's deadline. Moderate confidence reflects convergent diplomatic reporting that most opponents view the 36-month renewal as sufficient incentive to accept delisting despite public objections. Latvia's holdout centers on procedural coordination language rather than outright rejection, leaving room for a last-hour compromise. A failure to reconcile Latvia's stance with France's and Luxembourg's push risks lapsing sanctions on roughly 3,000 other Russia-linked targets, an outcome no member state has signaled it wants.
4 sources
  1. EU fails to finalize Russia sanctions deal, ambassadors to reconvene hours before deadline - Kyiv Independent
  2. The EU failed to agree on lifting sanctions against Russian billionaires Usmanov and Fridman - УНН (UNN)
  3. EU continues talks on deal to lift sanctions on Russia-linked billionaires Usmanov and Fridman, diplomats say - Reuters (via ThePrint)
  4. Latvia Blocks EU Decision to Lift Sanctions on Usmanov and Fridman - Newsy Today

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