The European Union has agreed to remove sanctions on two Russian oligarchs—Alisher Usmanov and Mikhail Fridman—who were sanctioned following Russia's 2022 invasion of Ukraine. The decision has provoked strong anger in Ukraine, with Foreign Minister Andriy Sybiha condemning the move as sending a dangerous signal of impunity to Moscow and creating division within Europe. France championed Usmanov's removal citing national security concerns, whilst Luxembourg pushed for Fridman's removal; Latvia initially opposed but agreed to a compromise arrangement.

The compromise extends sanctions on approximately 2,600 remaining individuals and entities for three years, shifting from the previous six-month renewal cycle. Usmanov, a Russian-Uzbek billionaire, founded USM Holding, which owns iron, steel and copper suppliers and the Megafon telecommunications company; he previously had connections to Premier League clubs Arsenal and Everton. Fridman, a Russian-Israeli businessman born in Ukraine, leads the Alfa Group investment conglomerate focused on energy and banking. Ukraine has urged all EU member states to impose national sanctions on both oligarchs instead, with Latvia already committing to do so.