The European Union has agreed to remove two Russian billionaires, Alisher Usmanov and Mikhail Fridman, from its sanctions list, whilst extending restrictions on nearly 3,000 individuals and companies linked to Russia's war on Ukraine for a further three years. The decision represents a contentious compromise reached under time pressure, as France and Luxembourg used their veto power to exempt the oligarchs—France citing a prisoner exchange involving French nationals and Azerbaijan, and Luxembourg seeking to protect its legal interests against Fridman's $16 billion lawsuit. The move has drawn sharp criticism from Ukraine and many EU member states, who view it as a dangerous precedent that weakens sanctions enforcement.

To enable the controversial delistings, the EU agreed to extend the sanctions renewal period from six months to 36 months, a concession designed to enhance predictability of the framework. Latvia initially objected to the compromise, delaying negotiations until the final deadline, but ultimately agreed to abstain rather than block the agreement. Ukraine's president Volodymyr Zelenskyy condemned the decision as unacceptable, arguing that every sanctioned individual represents a reason the war continues, whilst Ukrainian foreign minister Andrii Sybiha called it "shameful and unjustifiable," warning that Moscow had achieved exactly what it wanted: a sense of impunity and evidence of European division.