Article · Geopolitics · Money and markets · Lithuania
Latvia was the only country to reject the EU sanctions compromise. What does that "no" mean hours before the deadline?
Latvia is defending two names, but its "no" to the compromise does not by itself renew anything. On 21 September, ambassadors put together a package: Usmanov and Fridman come off the list, and the remaining roughly 3,000 entries are renewed for 36 months. Late that day, according to the Kyiv Independent, Latvia was the only country that had not signed. If there is no decision by the end of 22 September, the whole list lapses, and it is the legal basis for more than 21.994 million euros frozen in Lithuania.
In our 20 September article, "Do EU sanctions on almost 3,000 people stop applying on 22 September?", the blockers were Slovakia and France, and Paris declined to comment. Three things have changed since then. There is now a concrete package on the table, with two delistings and a 36-month renewal. The last capital holding it up is not Paris or Bratislava but Riga. And France and Luxembourg have now stated their motives in public.
Everything below describes the situation at the end of 21 September. The next ambassadors' meeting was set for 08:00 Brussels time on 22 September, so the outcome may already be known by the time you read this. How to check it yourself is at the end.