EU Removes Billionaires Usmanov and Fridman From Sanctions List

By Reuters Sep. 22, 2026 Alisher Usmanov and Mikhail Fridman. © Marie-Lan Nguyen; LetterOne Group EU envoys agreed to drop billionaires Alisher Usmanov and Mikhail Fridman from its Russian sanctions list and to roll over the remaining 3,000 individuals and entities for another three years, EU diplomats said on Tuesday. EU envoys had earlier agreed to remove the Usmanov and Fridman in exchange for a three-year renewal, but Latvia was the last hold-out in an unusually fraught process. Sanctions require unanimity among EU countries to be approved. In the past, Russia designations were up for renewal every six months. France surprised other EU members earlier this month when it pushed for Usmanov, a Russian-Uzbek metals tycoon, to be removed from EU sanctions, citing national security concerns. Luxembourg then demanded the same treatment for Fridman, who has launched a $16 billion claim against the country. This is a breaking news story. Read more about: Billionaires , Sanctions , Business Sign up for our free weekly newsletter Our weekly newsletter contains a hand-picked selection of news, features, analysis and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview Subscribers agree to the Privacy Policy We sent a confirmation to your email. Please confirm your subscription. A Message from The Moscow Times: Dear readers, We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent." These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia. We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help. Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact. By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us. Once Monthly Annual Continue Not ready to support today? Remind me later. × Remind me next month Remind me Thank you! Your reminder is set. We will send you one reminder email a month from now. For details on the personal data we collect and how it is used, please see our Privacy Policy. Read more EU Court Rejects Abramovich’s Latest Challenge to Sanctions It was the third time the EU court had rejected a challenge from Abramovich, following rulings in December 2023 and September 2025. 2 Min read Finland Seizes Sanctioned Billionaire Boris Rotenberg's Villa – Yle Rotenberg has been unable to transfer funds to Finnish bank accounts in recent years due to sanctions restrictions, Yle said. 2 Min read opinion Vladislav Inozemtsev Russia's Billionaires Are Losing the Global Wealth Race Russia’s billionaires once rivaled Microsoft & Bill Gates. Today, just six remain in the global Top 100, trapped at home and stripped of global influence... 4 Min read Sanctioned Russian Billionaires Exploit Dutch Legal Loophole to Conceal Finances – NOS By classifying their companies as micro-businesses, billionaires can conceal cash flows and avoid strict reporting requirements. 2 Min read