Zelensky Urges EU to Sanction Oligarchs Usmanov and Fridman

Ukrainian President Volodymyr Zelensky on Friday called on the European Union to impose targeted sanctions on two prominent Russian oligarchs — Alisher Usmanov and Mikhail Fridman — accusing them of providing financial support to the Kremlin's ongoing war effort in Ukraine.

In a statement released by the Office of the President, Zelensky said both businessmen have maintained ties with state-linked Russian enterprises and have failed to distance themselves from the Putin regime despite nearly five years of full-scale war. He described their continued financial activities in third countries as a loophole that weakens the overall sanctions framework.

Usmanov, a metals and telecoms magnate with a net worth estimated in the tens of billions before the war, has been subject to EU sanctions since 2022 but reportedly uses third-party structures in Gulf states and Central Asia to preserve assets and influence. Fridman, co-founder of Alfa-Bank, has similarly contested European sanctions through legal proceedings.

Zelensky urged the EU Council to close legal loopholes that allow sanctioned individuals to use family members, shell companies, and intermediary jurisdictions to circumvent restrictions. He specifically cited evidence gathered by Ukrainian intelligence and partner agencies regarding recent financial flows linked to both men.

The EU's next sanctions package review is expected in October, and Ukrainian officials have been intensifying lobbying efforts ahead of that deadline. Kyiv has consistently argued that stronger enforcement of existing sanctions is as important as adding new ones.

EU member states have shown varying levels of enthusiasm for further oligarch-targeting measures, with some citing legal difficulties in proving direct war financing. The commission has nonetheless taken steps to close loopholes following similar pressure last year.