Blacklisted Oligarch - Hungary's Demands to the EU

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Blacklisted Oligarch - Hungary's Demands to the EU
Photo: Pavel Golovkin/AP/TT

Remove the Russian oligarch Michail Fridman from the sanctions list. Otherwise, all EU sanctions against individuals due to the war in Ukraine will expire as early as this weekend.

The demand is made by Hungary when the EU countries' ambassadors are now seeking unity on an extension of the sanctions at the last minute, reports the newspaper Financial Times.

The 60-year-old Fridman has for many years been one of Russia's - and sometimes the world's - richest people, primarily through the major bank Alfa Bank, which he founded as early as 1991.

Fridman has been put on the EU's sanctions list twice, since a first decision from 2022 was rejected by the EU court. The second decision has also been appealed by him, while he has sued the court's host country Luxembourg for a multi-billion amount.

Initially, Hungary demanded that seven other oligarchs be removed from the sanctions list, including former Arsenal owner Alisjer Usmanov and Fridman's long-time business colleague Pjotr Aven.

If no agreement can be reached among the EU countries by March 15 at the latest, the sanctions will expire against a total of over 2400 persons, organizations, and companies identified as having undermined or threatened Ukraine's territorial integrity and independence.

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By TTEnglish edition by Sweden Herald, adapted for local and international readers

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