'Not the time to shield Russian oligarchs,' Zelensky says as EU delays sanctions decision amid pressure from France

The European Union has agreed to postpone its deadline for extending sanctions against Russia, giving officials another seven days to reach an agreement, a spokesperson for the Presidency of the Council of the EU told the Kyiv Independent on Sept. 14.

Under the previous deadline, the EU had until Sept. 15 to renew its sanctions on 2,600 primarily Russian entities and individuals. Attempts to reach an extension agreement, however, have been hindered by calls to remove Russian businessmen from the sanctions list.

The bloc will now have until midnight on Sept. 22 to reach an agreement, in order to give "additional time for member states to comprehensively examine proposals for the renewal," the EU spokesperson said.

The announcement comes amid multiple reports that discussions are being held up by calls to delist Russian oligarchs — not only from the Kremlin-friendly member Slovakia, but also, in a surprise turn, from France.

France is lobbying to remove sanctioned Uzbek-Russian oligarch Alisher Usmanov from the list, Euronews reported Sept. 12. The move reportedly stunned fellow European diplomats.

People familiar with the situation told the Financial Times (FT) on Sept. 14 that France was calling to delist Usmanov as part of a deal with Azerbaijan to release several French citizens currently detained there.

The prisoner swap is reportedly contingent on all 27 EU member states agreeing to ease sanctions on Usmanov.

France did not provide details on the prisoner release deal or its reasons for seeking Usmanov's removal in discussions with other EU members, citing only an unspecified "security matter," a diplomatic source told the Kyiv Independent.

Meanwhile, Slovakia is continuing to advocate for the delisting of both Usmanov and sanctioned tycoon Mikhail Fridman, one of the wealthiest men in Russia. In another twist, Luxembourg has said that if Usmanov is removed, it wants Fridman taken off the list as well, the FT reported.

Luxembourg declined to comment when the Kyiv Independent reached out for confirmation.

Presidential Sanctions Commissioner Vladyslav Vasliuk condemned the "sheer immorality" of easing sanctions on Fridman in a social media post Sept. 14.

"Delisting Fridman is not an abstract political question," he wrote. "Major economic and legal proceedings in Ukraine, involving significant assets and claims, are directly tied to sanctions against him — not to mention the sheer immorality of such a move."

President Volodymyr Zelensky also urged Europe to continue holding Russian billionaires to account in his evening address on Sept. 14.

"This is definitely not the time to lift sanctions, definitely not the time to shield Russian oligarchs from sanctions, and definitely not the time for Europe to give Russia any gifts," he said.

"Usmanov, Fridman, and other such Russian figures have not yet taken 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.

Extending the EU sanctions requires a unanimous vote, meaning one member state has veto power over the renewal. The measures were last extended on March 14.

Additional reporting contributed by Chris Powers.