EU's Last-Minute Sanctions Standoff: The Usmanov Dilemma

The European Union has delayed renewing Russia sanctions until September 22, due to disagreements over delisting billionaire Alisher Usmanov, at France's suggestion. The sanctions, affecting 3,000 entities with asset freezes and travel bans, require unanimous approval and are renewed biannually. Usmanov, disputing these, faces criticism and lawsuits.

In an unexpected turn, European Union ambassadors have postponed the renewal of sanctions against Russian entities, including individuals linked to the Kremlin, for another week. The decision, now extended to September 22, highlights a debate over the delisting of Russian-Uzbek billionaire Alisher Usmanov.

France and Slovakia are reportedly leading the charge to remove Usmanov from the list, citing national security concerns. France aims to increase pressure on Russia while addressing the diplomatic concerns of its international partners. The sanctions, targeting around 3,000 companies and individuals, were initially set to expire on September 15.

The EU measures require a unanimous decision from all 27 member states and are reconsidered every six months. Amid these deliberations, Usmanov, whose assets span metals, telecoms, and media, is contesting the sanctions, with multiple lawsuits challenging the basis for these restrictions.