In the long struggle to hold a coalition together against Russian aggression, the European Union now faces a quieter but no less consequential test: whether the solidarity forged in 2022 can survive the competing interests of its own member states. Negotiations over the potential delisting of oligarchs Alisher Usmanov and Mikhail Fridman have exposed a fault line between those who see sanctions as inviolable leverage and those, led by France, who appear to be weighing other calculations. Latvia's refusal to renew the broader Russia sanctions regime until the dispute is resolved has transformed
EU Nears Deal on Delisting Russian Oligarchs Amid Sanctions Dispute
One country can block the entire package
Mark
Why does France want to delist Usmanov specifically? What's the reasoning?
Mimi
The source doesn't spell out France's rationale directly. We know France requested it, but the underlying argument—whether it's economic, diplomatic, or something else—isn't explained in the reporting.
Luke
That's a real gap. We're told there's a dispute, but not why one of Europe's largest economies is pushing this position. That matters for understanding whether this is a principled disagreement or something else entirely.
Mark
And Latvia blocking the whole sanctions renewal—that's a pretty dramatic move. How much power does one country actually have?
Mimi
In the EU, sanctions require unanimous approval. So yes, one country can block the entire package. Latvia's using that leverage to prevent what it sees as a weakening of pressure on Russia.
Luke
But we should be careful here. The reporting says Latvia "blocks" renewal, but it's not clear if that's a permanent veto or a negotiating tactic. Is Latvia saying no forever, or is it saying no until France backs down?
Mark
What about the Ukrainian warning? How seriously should we take that?
Mimi
A top Ukrainian official said publicly that weakening sanctions plays into Russia's hands. That's a direct statement of Ukraine's interest in this negotiation.
Luke
True, but we should note that Ukraine has an obvious interest in keeping sanctions strong. That doesn't make the warning wrong, but it does mean we're hearing from a party with skin in the game. We're not hearing from Russia, or from the oligarchs themselves, or from anyone defending the delisting on its merits.
Mark
So what's actually likely to happen?
Mimi
Diplomats say a deal is near, but the reporting doesn't specify what that deal looks like. It could be delisting one or both oligarchs, or some kind of compromise that splits the difference.
Luke
Right—"nearing a deal" is doing a lot of work in that sentence. We don't actually know what's being negotiated or what the terms are. The story is really about the fact that there's a dispute and it's unresolved.
The Pulse
- France's push to remove Usmanov from the EU sanctions list has shattered consensus among the bloc's twenty-seven member states, turning a routine policy renewal into a fractious standoff.
- Latvia has escalated the stakes by blocking the reauthorization of the entire Russia sanctions regime, refusing to sign off until the oligarch dispute is settled.
- Ukrainian officials have issued public warnings that any relief granted to Russian billionaires will be read in Moscow as a retreat, weakening the West's most visible tool of economic pressure.
- Diplomats report that a deal is taking shape, with possible paths including delisting one or both oligarchs while preserving the broader sanctions architecture, or finding a parallel mechanism to address France's concerns.
- The deadlock cannot hold indefinitely — the EU's credibility as a unified actor on Russia policy now hinges on how, and how quickly, it resolves the divisions within its own ranks.
In the long struggle to hold a coalition together against Russian aggression, the European Union now faces a quieter but no less consequential test: whether the solidarity forged in 2022 can survive the competing interests of its own member states. Negotiations over the potential delisting of oligarchs Alisher Usmanov and Mikhail Fridman have exposed a fault line between those who see sanctions as inviolable leverage and those, led by France, who appear to be weighing other calculations. Latvia's refusal to renew the broader Russia sanctions regime until the dispute is resolved has transformed a diplomatic disagreement into a structural crisis, one that Ukraine watches with the particular anxiety of a nation whose fate is entangled in Europe's unity.
The European Union is working toward a compromise over whether to remove two Russian billionaires — Alisher Usmanov and Mikhail Fridman — from its sanctions list. Both have been blacklisted since 2022, but France has championed Usmanov's delisting, fracturing consensus among member states and turning the dispute into a broader test of European unity on Russia policy.
The standoff has produced a concrete consequence: Latvia has blocked the routine renewal of the EU's entire Russia sanctions regime, refusing to authorize the broader blacklist until the disagreement over individual oligarchs is resolved. For countries bordering Russia or closely tied to Ukraine's defense, the prospect of delisting either oligarch represents an unacceptable signal of weakness at a moment when Russian military operations continue.
Ukraine has made its alarm explicit. A senior Ukrainian official warned publicly that weakening sanctions would play into Russia's hands, stripping the West of one of its most effective tools for constraining Russian behavior. For Kyiv, every concession granted to a Russian oligarch registers as a diminishment of Western resolve.
The fault line the negotiations have exposed runs deep. France's position suggests Paris may be operating from a different strategic calculus — perhaps economic ties, or a longer-term vision for managing relations with Moscow. Other member states see sanctions as leverage that should not be surrendered piecemeal, regardless of the diplomatic pressure.
Diplomats say a resolution could come soon, though its shape remains uncertain. The EU might delist one or both oligarchs while preserving the broader sanctions framework, or find a separate mechanism to address French concerns without formally weakening the blacklist. What is clear is that the current deadlock is unsustainable — and that how Europe resolves it will say something lasting about the durability of its commitment to Ukraine.
The European Union is working toward a compromise that would resolve a months-long standoff over whether to remove two Russian billionaires from its sanctions list. At the center of the dispute is Alisher Usmanov, whose delisting France has championed despite resistance from other member states. The negotiations have become a test of how unified Europe can remain on Russia policy as the bloc grapples with competing economic and geopolitical interests.
Usmanov and Mikhail Fridman, both oligarchs with deep ties to Russian business and politics, have been subject to EU sanctions since 2022. France has argued that Usmanov's name should be struck from the blacklist, a position that has fractured consensus among the twenty-seven member states. Diplomats involved in the talks say a deal is taking shape, though the exact terms remain fluid. The negotiations touch on a broader question: whether the EU should maintain maximum pressure on Russia through sanctions, or whether selective delistings might serve other strategic purposes.
The impasse has had a concrete consequence. Latvia has blocked the renewal of the EU's Russia sanctions regime itself, refusing to sign off on the broader blacklist until the disagreement over individual oligarchs is resolved. This move has effectively halted the routine reauthorization of sanctions that would otherwise proceed automatically. The Latvian position reflects deep concern among some member states that delisting either Usmanov or Fridman would signal weakness at a moment when Russia continues military operations in Ukraine.
Ukrainian officials have watched these negotiations with alarm. A top Ukrainian official warned publicly that weakening EU sanctions would play directly into Russia's hands, undermining the pressure that has been one of the West's primary tools for constraining Russian behavior. The warning reflects the reality that Ukraine has a direct stake in how Europe calibrates its sanctions policy—any relief granted to Russian oligarchs is experienced in Kyiv as a reduction in Western resolve.
The negotiations reveal a fault line within the EU itself. France's push for Usmanov's delisting suggests Paris may be weighing other considerations—perhaps economic relationships, or a different calculation about how to manage relations with Moscow over the long term. Other member states, particularly those bordering Russia or with stronger security commitments to Ukraine, view sanctions as non-negotiable leverage that should not be surrendered piecemeal.
Diplomats say a deal could come soon, though the shape of any agreement remains unclear. One possibility is that the EU might agree to delist one or both oligarchs while preserving the broader sanctions architecture. Another is that member states might find a compromise that allows the Russia blacklist to be renewed while addressing France's specific concerns through a separate mechanism. What is certain is that the current deadlock cannot hold indefinitely—the EU's ability to maintain unified pressure on Russia depends on resolving these internal divisions, even if the resolution disappoints those who see sanctions as the last clear lever of Western influence.
Notable Quotes
Weakening EU sanctions plays into Russia's hands— Top Ukrainian official
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