EU Fails to Extend Russia Sanctions Over Oligarch Dispute
Hungary and Slovakia blocked the renewal of EU sanctions against Russia after the bloc refused to delist oligarchs Alisher Usmanov and Mikhail Fridman.
KEY POINTS
- EU ambassadors failed to agree on extending Russia sanctions on Monday night.
- Hungary and Slovakia demanded delisting of oligarchs Usmanov and Fridman.
- Ireland proposed a 36-month extension in exchange for removing the two names.
- France backed Usmanov's removal, allegedly tied to a spy swap with Azerbaijan.
- Sanctions on ~2,000 targets risk expiring without unanimity.
EU ambassadors failed to agree on Monday to extend sanctions against roughly 2,000 individuals and entities, raising the risk that the measures expire this week. The deadlock erupted after Hungary and Slovakia demanded the removal of Russian billionaires Alisher Usmanov and Mikhail Fridman from the blacklist. Ireland, holding the EU presidency, proposed delisting both men in exchange for a 36-month renewal instead of the standard six months. France supported Usmanov's delisting, reportedly linked to a prisoner swap with Azerbaijan. However, the required unanimity was not reached, leaving the sanctions regime in legal limbo.
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