Latvia imposes national sanctions on Usmanov and Fridman after EU delisting

Latvia's government imposed national sanctions on Russian tycoons Alisher Usmanov and Mikhail Fridman on September 22, following the European Union's decision to remove them from their sanctions framework, according to media reports. The Latvian measures include comprehensive asset freezes and prohibit the businessmen from entering the country.

Latvia plans to continue advocating for additional EU sanctions against Russia. The country revoked its procedural objection to extending the EU's individual sanctions regime, allowing the Council of the European Union to delist Usmanov and Fridman. The EU extended sanctions against most individuals and entities linked to Ukraine's sovereignty, independence, and territorial integrity for another 36 months, until September 22, 2029.

The Latvian government labeled Usmanov as a prominent businessman with strong ties to Russian President Vladimir Putin and a key shareholder in USM Holdings. They also identified Fridman as a leading Kremlin-aligned businessman and a primary shareholder in the Alfa Group, including Rosvodokanal. Fridman divested his direct equity stake in Alfa Bank's Russian corporate entity in 2024, receiving a substantial payout in Russia.

Ukrainian Foreign Minister Andrii Sybiha previously urged Latvia to apply unilateral sanctions against Usmanov and Fridman immediately after the EU lifted its restrictions. Latvian Prime Minister Andris Kulbergs stated that the EU's initial decision to delist the businessmen prompted Latvia's initial hesitation to renew the broader EU sanctions regime against Russia.