Luxembourg's excuse for de-listing Russian oligarch Mikhail Fridman fails to convince
Luxembourg's move to delist Mikhail Fridman has "set a dangerous precedent," as other Russian oligarchs may push to get the same treatment, lawmaker Franz Fayot told the Kyiv Independent.
Luxembourg's Prime Minister Luc Frieden defended the decision to delist Russian oligarch Mikhail Fridman from EU sanctions, claiming it was for Luxembourg's national interest. He argued that the high-value arbitration claim Fridman initiated against Luxembourg could be dropped, benefiting the country in the long run. However, the move sparked controversy, as it appeared to lack awareness of EU rules and could potentially undermine Luxembourg's position in any arbitration proceedings.
The EU clarifies that countries are not obligated to comply with legal rulings if sanctions are the reason for a deal or contract's failure. Despite this, Frieden claimed there was no EU solidarity for any financial burden. Critics argue that this decision sets a dangerous precedent and weakens the sanctions system, potentially creating a "regulatory chill."
Foreign Minister Andrii Sybiha has vowed to propose sanctions on additional 10 Russian oligarchs, emphasizing that the delisting was a wrong step.
Written by urgent.news from Kyiv Independent's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
