EU sanctions on Russia are at risk of expiring as France pushes to remove Uzbek-Russian Usmanov from the blacklist in a deal that could secure the release and pardon of two French nationals in Azerbaijan.
EU ambassadors are nearing a deal to break the deadlock over France’s request to delist Russian-Uzbek billionaire Alisher Usmanov from the sanctions list as part of a package that could see two French nationals released from prison in Azerbaijan.
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The Irish presidency, which runs the EU Council for six months under the bloc’s rotating presidency system, proposed a compromise to delist Usmanov and Mikhail Fridman, another Russian businessman, in exchange for an unprecedented 36-month renewal of the sanctions regime to avoid a similar impasse in future, diplomats told Euronews.
Ambassadors met on Monday morning but failed to strike a deal. They are set to reconvene at 14.00 CET as pressure to reach an agreement mounts.
"The contours of a deal are emerging," a diplomat said.
The French position has taken negotiations to the brink as a deadline to roll over sanctions on more than 2,600 people and entities accused of supporting Russia's war in Ukraine is set to expire at midnight on Tuesday if no agreement is reached.
Unanimity is required to renew the sanctions every six months.
After days of consultations, diplomats are preparing for an outcome in which Usmanov is removed, even if that prospect remains politically hard for many to stomach.
"Multiple ideas are floating around," a second diplomat said.
Uzbekistan, alongside other Turkic states, has lobbied for two years to have Usmanov, who holds Russian and Uzbek citizenship, removed from the sanctions list, appealing to the EU institutions and multiple member states.
His lawyers have also pushed for his delisting.
Euronews understands that Uzbek authorities and France have reached an agreement behind the scenes that would see Usmanov removed from the list in exchange for Azerbaijan releasing two French nationals from prison. The deal has angered several member states, which fear the precedent it could set.
Azerbaijani President Ilham Aliyev will issue a pardon as part of the deal.
The EU sanctioned Usmanov in the early days of the full-scale invasion over his "close ties" to Russian President Vladimir Putin and interests in "key sectors" of the Russian economy that provide "substantial" revenue to the state.
The 73-year-old businessman denies the allegations.
France has not confirmed the swap, and French officials have refused to comment beyond referring to a national security issue without providing details.
Since September 2024, Paris has warned against travelling to Azerbaijan over the "risk of arrest, arbitrary detention and unfair trial".
"In the event of arrest or detention, respect for fundamental rights is not guaranteed," the French foreign ministry says in a notice that remains active.
As negotiations drag on in Brussels, Ukraine has asked allies to keep both Usmanov and Fridman on the blacklist.
"How can anyone seriously discuss sanctions delisting while Russia's war continues?" Vladyslav Vlasiuk, sanctions advisor to the Ukrainian president, said on Monday.
"Delisting without a fundamental change in conduct sends exactly the wrong signal: pressure is temporary, accountability is negotiable, and sanctions can simply be waited out."