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Wednesday, October 14, 2026
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European Union · Regulation

Latvia Resists EU Sanctions Bargain Over Russian Billionaires

Latvia has opposed a proposed European Union compromise that would remove Alisher Usmanov and Mikhail Fridman from the bloc’s sanctions list in exchange for extending thousands of other Russia-related designations.

The dispute is legally consequential because renewal requires unanimity among the 27 member states. Without agreement, travel bans and asset freezes covering roughly 3,000 people and entities could expire. Supporters of the compromise regard the two removals as the price of securing a longer, three-year extension. Latvia says that trading individual listings for the wider package would weaken the credibility of the regime.

Both men have contested their designations. Fridman has also pursued a multibillion-dollar arbitration claim against Luxembourg, adding a second layer of legal exposure to the political negotiations. France and Luxembourg have argued for delisting in circumstances tied to their national concerns, while Ukraine and several eastern European states have urged the EU to hold its line.

The talks reveal a structural vulnerability in sanctions law: even a broad and carefully drafted regime can depend on recurring political consent. EU ambassadors are expected to continue negotiations, but no removal or renewal is effective until the required decision is formally adopted.

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