After Hungary abandons the opposition, the EU is reaching a deal to expand sanctions on individual Russians, including billionaires.
The EU has begun a so-called written process that lasts until Friday morning, paving the way for six months of sanctions after three names listed as Budapest’s request.
This expansion associated with Russia’s invasion of Ukraine has been largely routine, but Hungary began to postpone it after the victory of U.S. President Donald Trump in November.
Hungarian Prime Minister Viktor Orban, a pro-Russian who is also a close ally of Trump, extended the broader Russian sanctions regime earlier this year to back up at the last minute. EU diplomats said this time, Hungary initially promoted DE to support the extended eight names.
Luxembourg said that as the discussion was private, Luxembourg added some final pressure after pushing to remove tycoon Mikhail Fridman from the list, although he will continue to be subject to sanctions.
A Luxembourg spokesman declined to comment.
Fridman is one of Russia’s most outstanding businessmen, making billions of dollars in banking, oil and retail. He and his business partner Petr Aven won a surprising victory last April as the group’s general court ruled that the reasons for the EU’s justification of the sanctions were not fully proven.
Despite the court ordering the EU to repeal the restrictive measures, they are covered by sanctions after they are included in the updated EU list.
The EU has been pushing for economic pressure on Russia, especially through its sanctions regime. The group’s sanctions require unanimous support to the 27 member states.
With the assistance of Andrea Palasciano and Ewa Krukowska.
This article was generated from the Automation News Agency feed without the text being modified.
