EU countries move to remove two Russian billionaires from sanctions list

BRUSSELS — EU countries are moving toward a new deal that could see two prominent Russian billionaires removed from its sanctions list, in exchange for maintaining restrictions on hundreds of others.

Ambassadors from across the bloc met in Brussels on Monday to negotiate the renewal of the sanctions framework, after France refused to allow it to proceed unless tycoon Alisher Usmanov was removed. Mikhaïl Fridman, one of Russia’s wealthiest people, is also slated for removal.

According to three diplomats with knowledge of the talks, granted anonymity to speak freely, the deal would see sanctions against more than 3,000 people renewed for the next 36 months — in exchange for the removal of Usmanov and Fridman.

Countries will have to give their agreement for the plan to go ahead by written procedure this evening — with an 8.00pm deadline for them to affirm. Ambassadors are consulting with capitals, but the arrangement is expected to go ahead, the three diplomats said.

France has cited “national security concerns” as the reason for the move, joining forces with Slovakia, which has long lobbied for Usmanov’s delisting. Luxembourg has long called for the delisting of Ukrainian-born, Russian-Israeli tycoon Mikhail Fridman, who is suing the country for the release of frozen assets.

France has declined to explain its motivations publicly or privately. Diplomats said only that the move relates to “a specific national security issue” and that Paris “wishes to respond positively to international partners who have approached us regarding Mr. Usmanov.”

Usmanov has consistently denied supporting Russia’s war effort and campaigned for his removal from the sanctions list, while Fridman has argued the seizure of his assets is unlawful.