European Union envoys have agreed to remove Russian billionaires Alisher Usmanov and Mikhail Fridman from the bloc’s sanctions list while extending restrictions on around 3,000 other individuals and entities for three years, EU diplomats said.
The agreement was reached after Latvia dropped its veto, ending an unusually contentious process that had delayed the renewal of the sanctions regime, Reuters reports.
EU sanctions require unanimous approval by member states. Previously, the designations of Russian individuals and entities were renewed every six months. Latvia ultimately abstained, allowing the agreement to pass, according to diplomats.
The decision will be formally adopted once the EU completes a written procedure.
Earlier this month, France surprised other EU member states by calling for Usmanov, a Russian-Uzbek metals tycoon, to be removed from the sanctions list, citing national security concerns.
Luxembourg subsequently sought the same treatment for Fridman, who has filed a $16 billion claim against the country.
By Vafa Guliyeva
