Latvia rejects the agreement to lift sanctions imposed on Russian oligarchs

Latvia has announced that it cannot accept a proposed agreement at European Union level that would allow sanctions imposed on Russian oligarchs Alisher Usmanov and Mikhail Fridman to be lifted in exchange for maintaining restrictive measures against thousands of other individuals and companies.

The decision was reported by Reuters and Ukrainska Pravda, amid discussions on extending and adjusting the EU sanctions regime related to Russia. Riga believes that removing the two businessmen from the sanctions list cannot be offset by maintaining restrictions against other individuals and companies.

Usmanov and Fridman have ties to Russia and have been under European sanctions for some time. These include asset freezes and travel restrictions, imposed as part of measures adopted by the EU in response to Moscow's actions.

Latvia's position could influence negotiations among member states, as the sanctions regime must be maintained with the agreement of all EU countries. Discussions are continuing, and the final form of any potential agreement has not been announced.