Zelensky Condemns Delistings of Russian Oligarchs in Western Sanctions

President Volodymyr Zelensky denounced the removal of Russian oligarchs from Western sanctions during a meeting with European Commission President Ursula Von der Leyen, asserting that such a move would weaken pressure on Moscow amid continuous Russian missile and drone strikes in Ukraine. In a Telegram statement, Zelensky detailed the conversation, stating that they also discussed Ukraine's financial situation for the current and upcoming year, including the EU's €90 billion loan package for Kyiv's defense requirements.

Zelensky denounced the potential lifting of sanctions on Russian oligarchs such as Alisher Usmanov and Mikhail Fridman, calling it "suicidal and counterproductive" during a time of brutal Russian assaults on Ukrainian citizens. The EU disbursed €3.3 billion to Ukraine for missile and drone procurement following a phone call between the leaders a day earlier.

Brussels is prepared to utilize funds from the EU's SAFE defense program, a €150 billion defense financing initiative, to expand EU-Ukraine defense ventures. The leaders agreed to meet in New York during the 81st UNGA high-level week, taking place from September 22 to 28. This exchange underscores Kyiv's quest for ongoing financial and military backing as it confronts financial strain and persistent Russian air assaults.

Zelensky expressed gratitude for the EU's €90 billion loan and affirmed that Ukraine will adhere to its payment obligations to mitigate the budget deficit. The EU budget's broader picture remains crucial in these conversations, with member states yet to object to a proposed €100 billion allocation for Ukraine in the bloc's next seven-year budget, spanning 2028 to 2034.

The EU is expected to deliberate on the long-term framework during an Oct. 15-16 summit in Brussels. On Tuesday, the EU extended its Russian sanctions after Latvia reversed its opposition to the revised version, which would delist the two Russian oligarchs. Latvia's withdrawal of the veto occurred only hours before the sanctions expired on Tuesday night.

The EU ambassadors failed to reach a consensus on extending the Western sanctions for a second time following France and Slovakia's demands for changes to the sanctioned individuals' list on September 11. The sanctions, imposed since 2022, were temporarily extended for a week on September 14 before negotiations hit a stalemate. EU officials ultimately agreed to delist Usmanov and Fridman in exchange for a three-year extension instead of the typical half-year or one-year extensions.