The Baltic states have moved swiftly to impose national sanctions on Alisher Usmanov and Mikhail Fridman after the European Union removed both businessmen from its Russia sanctions list, a decision that has drawn sharp criticism from Ukraine and opposition figures.
Estonian Foreign Minister Margus Tsahkna signed the national sanctions document, stating that Estonia did not support the EU’s decision to delist the two businessmen .
“Estonia did not consider it right to remove these two prominent Russian businessmen from the EU sanctions list and did not support the decision. Russia shows no willingness whatsoever to end the war, so there is no justification for easing sanctions pressure,” Tsahkna said.
“Usmanov and Fridman continue to support Russia’s aggression against Ukraine and contribute to its continuation. That is why Estonia has imposed national sanctions on them,” the foreign minister added.
Lithuanian Foreign Minister Kęstutis Budrys has requested the Minister of Internal Affairs to include Usmanov and Fridman in the national list of foreigners banned from entering the Republic of Lithuania. The Lithuanian Foreign Ministry is also preparing legislative acts that will provide for the freezing of funds and economic resources of Usmanov and Fridman in accordance with the Law of the Republic of Lithuania on Establishing Restrictive Measures in Connection with Military Aggression against Ukraine.
Latvia, which had most strongly opposed the EU delisting, has already introduced financial restrictions and entry bans for both oligarchs .
Who Are Usmanov and Fridman?
Alisher Usmanov is a Russian-Uzbek metals and telecommunications magnate, founder of USM Holdings, with interests spanning iron ore, steel, telecommunications, and media. When the EU sanctioned him in 2022, it cited his “particularly close ties” to Russian President Vladimir Putin . He is also known as a former president of the International Fencing Federation.
Mikhail Fridman is a Russian-Israeli banking and investment tycoon, co-founder of Alfa Group, one of Russia’s largest private conglomerates, and LetterOne investment firm. He was sanctioned by the EU in 2022 in connection with Russia’s war against Ukraine. Fridman is currently seeking approximately $16 billion from Luxembourg in an arbitration case over frozen assets.
The EU Delisting Controversy
The EU’s decision to exclude Usmanov and Fridman from the list was made after active lobbying by several countries. The exclusion from the list was part of a compromise package that extended EU sanctions against approximately 3,000 other individuals and entities for 36 months, until September 22, 2029, significantly exceeding the usual six-month extension cycle.
Ukrainian Foreign Minister Andriy Sybiha called the EU decision “shameful and unjustifiable,” writing on X: “Moscow is celebrating because they got what they wanted — a sense of security and a humiliated and divided Europe” .
