Hungary Pushes for Sanction Exemptions for Russian Billionaires Ahead of Renewal Vote

Hungary is advocating for the removal of seven Russian billionaires and one federal minister from the European Union’s sanctions list before it consents to an extension of sanctions related to Russia’s invasion of Ukraine, according to a report from the investigative news outlet Systema on Wednesday, which cites two unnamed EU officials.

Previously, Reuters had reported that Hungary requested the removal of EU travel restrictions and asset freezes on eight Russian individuals, although their names were not disclosed.

As per Systema, affiliated with the U.S.-funded news service Radio Free Europe/Radio Liberty, the billionaires Alisher Usmanov, Mikhail Fridman, and Petr Aven are part of the list brought forth by Hungarian representatives. The Russian Sports Minister, Mikhail Degtyarev, is also included.

Of the eight individuals, all but Degtyarev had previously contested the sanctions in EU courts.

The EU is required to renew its two sets of sanctions against Russia—targeting over 2,400 individuals and entities, as well as a separate set of economic restrictions—every six months through a unanimous vote.

Last month, Hungary postponed the renewal of economic sanctions until the European Commission agreed to involve Budapest in negotiations regarding the resumption of gas transit into the EU via Ukraine.

Hungary, which maintains relatively amicable relations with Russia, has frequently used votes on sanctions renewal as a form of leverage.

On Tuesday, Reuters reported that Hungary is also looking for new assurances regarding gas transit negotiations with Ukraine prior to the next sanctions renewal vote.

Ukraine allowed its gas transit agreement with Russia to expire on January 1, aiming to cut off Moscow’s revenue used to finance the war.