'Immoral and self-destructive' — Zelensky blasts EU for considering lifting sanctions on Russian oligarchs

President Volodymyr Zelensky criticized the European Union for so far failing to reach an agreement to extend sanctions against Russian oligarchs and businesses, calling it "immoral and self-destructive" in remarks on Sept. 12.

The EU has until Sept. 15 to renew its sanctions on more than 3,000 primarily Russian entities and individuals, but failed again on Sept. 11 to approve the extension. The measures were last extended on March 14.

Slovakia is holding up the agreement by repeating its call to lift sanctions against Russian oligarchs Mikhail Fridman and Alisher Usmanov — and for the first time, France has joined Bratislava in pushing for Usmanov to be delisted, four EU diplomats told the outlet Euronews.

Zelensky called out Fridman and Usmanov by name in a social media post on Sept. 12, demanding that the EU mount pressure against Russia's business sector rather than easing sanctions.

"When the Ukrainian economy is simply a target for Russia, it is certainly not the time for Europe to view Russian oligarchs as friends," he said.

"When Russia uses every euro and dollar to prolong the war, it is immoral and self-destructive to give Russian businesses the opportunity to live in a way that allows them to avoid the consequences of the war. Usmanov and Fridman represent the very type of Russian business that needs to find the courage to take concrete steps against the war."

Fridman is a co-founder of the Russian conglomerate Alfa-Group and a member of Russian President Vladimir Putin's inner circle.

Investigative reporters revealed in May 2023 that subsidiary Alfa Insurance provided insurance for vehicles used by Russian forces in Ukraine. The company has also reportedly serviced the Main Office of Special Programs, which is responsible for guarding Putin.

Usmanov is a Russian-Uzbek businessman who made his fortune in metal and mining operations following the collapse of the Soviet Union. He was referred to as "one of Putin's favorite oligarchs" in the EU's original 2022 sanctions decision.

Slovakia, arguably the most Kremlin-friendly government in the EU, has long called for the bloc to remove both Fridman and Usmanov from its sanctions list. France joining the demand is new, and has caused "huge frustration" among member states, diplomats told Euronews.

France reportedly is presenting the delisting of Usmanov as a political compromise, believing Slovakia is unlikely to give up both its demands in order to reach an agreement.

Extending the EU sanctions requires a unanimous vote, meaning one member state has veto power over the renewal.

However, there is little risk that the sanctions will lapse, an EU diplomat told the Kyiv Independent. The worst-case scenario would likely mean the measures would only be extended six months (instead of the desired 12), rather than expire altogether.

Ambassadors will convene again on Sept. 14, with the aim of reaching an agreement by the 15th.

Zelensky urged the EU to consider Russia's escalating assault against Ukraine's economy when finalizing its sanctions list. He emphasized that Russia continued to launch large-scale drone attacks, aiming to "destroy the Ukrainian economy in ordr to break our resistance."

"Russian businesses that pay taxes into the war budget, and Russian oligarchs ... must feel that there is no safe place for them in the world as long as this war continues," he said.

The president did not single out France or Slovakia in his comments, but made it clear he did not support lifting sanctions against the Kremlin's billionaires — especially on a day of mass drone strikes across Ukraine.

"Five hundred Shahed drones per day is certainly not the right time to even begin a discussion about easing sanctions," he said.