The Lithuanian government on 14 October approved a draft resolution prepared by the Ministry of Foreign Affairs to freeze the funds and economic resources of two Russian businessmen, Alisher Usmanov and Mikhail Fridman. Under Article 3(1) of the Republic of Lithuania Law on Restrictive Measures in Connection with Military Aggression against Ukraine, the assets of these individuals are frozen, and it is prohibited to make funds and economic resources available to them.
“A Signal of Weakness”
“The decision to exclude two influential Russian oligarchs from the EU sanctions lists was a signal of weakness. Lithuania’s position is different: we are activating the national sanctions mechanism and freezing Fridman’s and Usmanov’s assets. Sanctions pressure on Russia and its supporters of the aggressive war must be increased,” said Lithuanian Foreign Minister Kęstutis Budrys.
On 22 September 2026, the Council of the European Union extended individual sanctions against Russia for a further 36 months, but Usmanov and Fridman were removed from the EU sanctions list due to the political interests of certain EU member states . Lithuania consistently opposed their removal throughout the negotiation process and abstained from voting on the Council decision.
Why Usmanov and Fridman Were Originally Sanctioned
Both businessmen were added to the EU sanctions list in 2022, shortly after Russia’s full-scale invasion of Ukraine.
According to the EU’s official justification, Mikhail Fridman is one of the main shareholders of ABH Holding, which includes the major Russian bank Alfa Bank. The transfer of his shares in A1, part of the Alfa Group, is considered fictitious. The EU stated that Fridman “succeeded in establishing strong connections with the office of the President of the Russian Federation, Vladimir Putin,” and is “known to be one of the most significant Russian financiers and a key supporter of Vladimir Putin’s inner circle.” Through his government connections, he successfully obtained state assets. The EU also noted that Fridman and his business partner Petr Aven participate in Kremlin efforts to dismantle Western sanctions imposed in response to Russian aggression against Ukraine.
Alisher Usmanov, a Russian-Uzbek metals and telecommunications magnate, was sanctioned by the EU in 2022 based on his alleged close ties to the Russian leadership. The sanctions included asset freezes and a ban on entering EU countries. The justification cited his extensive business interests across various sectors of the economy.
Lithuania’s Additional Measures
Earlier, on 23 September, Minister Budrys requested the Minister of Internal Affairs to include Usmanov and Fridman in the national list of foreigners banned from entering the Republic of Lithuania. According to publicly available data, both are among the most influential businessmen in the Russian Federation, operating in economic sectors that constitute an important source of revenue for the Russian government responsible for the ongoing aggression against Ukraine.
