Latvia prepares its own sanctions against Usmanov and Fridman after EU deal

The Latvian government has instructed the preparation of national sanctions against Russian businessmen Alisher Usmanov and Mikhail Fridman after Riga agreed not to block their removal from the EU sanctions list.

The decision was made by the government on September 22 at a closed meeting dedicated to the extension of personal EU sanctions against Russia. The Ministry of Foreign Affairs has been instructed to immediately prepare a proposal, legal justification, and necessary regulatory acts for imposing restrictions against Usmanov and Fridman at the national level.

The government separately emphasized that Latvia intends to use the legal mechanisms available to it to prevent the unfreezing of the funds and economic resources of the two businessmen in the country after their removal from the EU list.

National sanctions have not yet been imposed: first, the Latvian Foreign Ministry must prepare the legal framework and drafts of relevant decisions.

The decision became part of a compromise on extending the entire European sanctions regime. EU countries agreed to extend personal restrictions on more than 2,600 individuals and legal entities for 36 months instead of the previous review every six months. As part of the deal, Usmanov and Fridman are removed from the European list.

Latvia opposed such a compromise until the last moment and was the only EU country that did not agree to the politically motivated, as Riga assessed it, exclusion of certain individuals. However, extending the entire regime required unanimity, and the current restrictions were due to expire on September 22.

As a result, the representative of Latvia will abstain when the decision is taken in the EU Council, maintaining Riga's official disagreement with the exclusion of Usmanov and Fridman. This will allow not to block the three-year extension of sanctions against the remaining individuals and companies.

Latvian Prime Minister Andris Kulbergs stated that the government had to choose between changing the status of two people and risking the entire restrictions regime, which covers more than 2,600 individuals and organizations associated with Russian aggression.

Usmanov came under EU sanctions after Russia's full-scale invasion of Ukraine began. Brussels pointed to his close ties with Russian leadership and interests in key sectors of the Russian economy. Fridman was also under European restrictions and challenged them in court.

Based on materials from: the Government of Latvia, Euronews