Russian billionaires have begun studying Usmanov and Fridman’s experience in getting out from under EU sanctions

Russian billionaires have begun studying Usmanov and Fridman’s experience in getting out from under European Union sanctions

This was reported by Bloomberg, which surveyed entrepreneurs and people close to them.

In particular, two of the publication’s sources plan to study Mikhail Fridman’s case as a precedent for their own lawsuits.

Some of those surveyed, however, believe that both cases involved special circumstances, so they are not counting on restrictions being lifted for themselves.

🔵The European Union imposed sanctions on both businessmen in 2022. On September 14, EU countries extended sanctions against Russia for a week in order to decide during that time whether to remove Alisher Usmanov, as requested by France and Slovakia, and Mikhail Fridman from the sanctions list. Slovakia had requested the removal of the latter. Latvia opposed the decision.

🔵As a compromise, Ireland proposed keeping Usmanov on the list while lifting some restrictions, for example unfreezing his assets and removing the ban on entering the European Union. Some countries said this would create a dangerous legal precedent.

🔵On September 22, the EU lifted sanctions on Usmanov, Fridman, and the head of Crimean University, Andrey Falaleyev.

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