The European Union Council has made significant changes to its documentation related to sanctions against Russian businesspeople. The term “oligarch,” previously used to refer to these individuals, has been replaced with the more neutral term “leading businessperson.” This change reflects a shift in the EU’s language and approach to the issue.
The term “oligarch” typically describes a wealthy business leader with significant political influence, particularly those who benefited from the privatization of state-run industries after the collapse of the Soviet Union. In the EU’s latest reports justifying personal sanctions against Russian tycoons like Alisher Usmanov, Pyotr Aven, Roman Abramovich, and Oleg Deripaska, the term “oligarch” has been removed. It has also been removed from depictions of President Vladimir Putin’s meeting with representatives of Russia’s biggest businesses.
Earlier this year, the EU Council clarified the formal criteria for imposing personal sanctions on Russian businessmen. These criteria include targeting leading businesspeople operating in Russia and those operating in economic sectors that provide significant income for the country. In line with these criteria, the EU has lifted sanctions on three individuals: Alexey Mordashov, chairman of Russian steel giant Severstal, and Andrey Melnichenko, whose businesses include fertilizer producer EuroChem and coal producer SUEK. The reasoning behind sanctions against Melnichenko is that he continues to benefit from wealth he transferred to his wife, as he was previously only identified as a former owner of production groups.
In addition to these changes, the European Council has also removed four Russians from its sanctions list. This includes Grigory Berezkin, a Russian businessman, billionaire and former Federation Council member Farkhad Akhmedov, the former head of Russian e-commerce firm Ozon Aleksandr Shulgin, and Russian Army Colonel Georgy Shuvaev, who passed away in autumn 2022. The decision not to extend restrictions against these individuals was announced earlier this week, with their identities withheld until Thursday.
The EU’s decision to remove the term “oligarch” and make changes to its sanctions list reflects a more nuanced approach to its relationship with Russian businesspeople. These changes aim to avoid unnecessary political connotations and focus on the economic aspects of the sanctions. The move also highlights the EU’s commitment to transparency and accountability by providing detailed explanations for the imposition and removal of sanctions.
Overall, the EU Council’s changes to sanctions documentation and the lifting of restrictions on three Russian businessmen demonstrate a shift in the EU’s approach to dealing with Russia. By removing the term “oligarch” and providing clearer criteria for sanctions, the EU aims to promote a more objective and targeted approach to addressing issues related to Russian businesspersons.
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