EU fails to reach deal to lift sanctions on Russian oligarchs

Billy Odell Tucker-Robinson Founder & Host — Banking With Billy Network • Intelligence Network • Data Science • AI Research • World News
Published: 2026-09-22T11:10:36.916Z • Permanent link

EU countries failed Monday to finalise a deal that involved lifting sanctions on Russian oligarchs Alisher Usmanov and Mikhail Fridman, sparking outrage among Western politicians and analysts. Multiple diplomats said earlier that member states had reached a provisional agreement, but it ultimately fell short of the necessary consensus. The collapse of the deal is a significant setback for efforts to ease tensions between Europe and Russia, and raises questions about the effectiveness of EU sanctions.

The decision was met with criticism from European Commission President Ursula von der Leyen, who expressed disappointment at the failure to reach a deal. Von der Leyen stated that the EU had made significant progress in recent months, but that the lack of consensus on lifting sanctions for Usmanov and Fridman was a major obstacle. The two oligarchs, who are among the wealthiest individuals in Russia, have been targeted by EU sanctions for their alleged involvement in the country's energy sector.

The EU's decision not to lift sanctions on Usmanov and Fridman is also being seen as a blow to the global energy market. The two oligarchs are major players in the Russian energy sector, and their companies, En+ Group and Itera Group, have significant stakes in the country's oil and gas production. The failure to lift sanctions will likely have a negative impact on the global energy market, particularly for companies that rely on Russian energy imports.

The failure of the EU to lift sanctions on Russian oligarchs Alisher Usmanov and Mikhail Fridman has significant implications for the global energy market. Companies that rely on Russian energy imports, such as European utilities and energy traders, will likely face increased costs and volatility in the coming months. The lack of sanctions relief will also make it more difficult for Western companies to do business in Russia, which could have a negative impact on their bottom line.

The EU's decision not to lift sanctions on Usmanov and Fridman also has implications for research communities and policymakers. The sanctions have been widely seen as a key tool for pressuring Russia to reform its energy sector and improve transparency. The failure to lift sanctions will likely undermine these efforts, and could make it more difficult for policymakers to achieve their goals. Furthermore, the lack of sanctions relief will also have a negative impact on the global economy, particularly for countries that rely heavily on Russian energy imports.

The EU's decision not to lift sanctions on Russian oligarchs Alisher Usmanov and Mikhail Fridman is part of a larger pattern of competing approaches to dealing with Russia's energy sector. The EU has been pushing for a more gradual approach to sanctions, while the US and other Western countries have been advocating for a more aggressive approach. This debate has been ongoing for months, and has sparked a heated debate among policymakers and analysts.