Hungary has lifted its objection to the European Union’s (EU) renewed sanctions on Russian individuals and entities, allowing the EU to extend the individual sanctions framework for six more months. The decision follows a compromise reached by EU ambassadors after Budapest removed its blockage.
The EU had initially aimed to remove eight sanctioned individuals, including Russian oligarchs Mikhail Fridman, Alisher Usmanov, and Petr Aven. However, it was agreed that four Russian individuals would be de-listed and three recently deceased persons would have their estates removed from the list.
Moshe Kantor, a Russian billionaire, and Mikhail Degtyarov, the country’s sports minister, were among those to be removed. The decision comes after EU diplomats warned that not removing any names would mean losing the entire sanctions framework.
The extension of the sanctions will keep over 2,400 individuals and entities on the EU blacklist until September 15, 2025. Hungary had initially sought to remove Fridman from the list, but he remains a target of the sanctions.
The next renewal deadline for the sanctions will be in July when measures targeting the Russian economy are subject to six-month extension.
Source: https://www.euractiv.com/section/politics/news/hungary-drops-veto-on-eus-russia-sanctions-rollover-after-several-oligarchs-de-listed