FT: Hungary demands removal of oligarch Fridman from EU sanctions list

Budapest is demanding that Russian oligarch Mikhail Fridman be removed from the European Unionʼs sanctions list, or it is threatening to block the blocʼs extension of restrictions against nearly 2 000 Russians.

This is reported by the Financial Times.

Travel restrictions and asset freezes on politicians and businessmen who supported or facilitated Russiaʼs war against Ukraine will expire on March 15 unless all 27 EU leaders decide to extend them for another six months.

The Hungarian ambassador to the EU has demanded that Friedman be removed from the list as Budapest’s price for continuing all other sanctions, sources told the FT. The bloc’s ambassadors are meeting in Brussels on March 13 after days of talks that failed to yield a compromise.

Kyivʼs "most loyal" allies, including the Baltic states, are against any easing of EU restrictions on Moscow, especially before the conclusion of US-brokered ceasefire talks.

According to the publication, Hungaryʼs idea is supported by Luxembourg. Last year, Fridman filed a lawsuit against the country, where his stake in the London-based investment company LetterOne is located. The oligarch demanded compensation for damages related to sanctions in the amount of $15.8 billion.

Hungary initially demanded the removal of eight names from the list, including other Russian billionaires such as Alisher Usmanov and Petr Aven. But now Budapest, according to sources, has focused on removing Fridman.

• In 2023, investigators from the Russian publication Proekt found that more than 80 Russian oligarchs were openly financing the Russian military. Among them was Mikhail Fridman.

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