Russian businessman Friedman asks Spain for help in lifting EU sanctions

Russian businessman Mikhail Fridman has asked the Spanish government to support his removal from the European Union's sanctions list, El Mundo reports, citing a letter from the billionaire to the Spanish Foreign Ministry.

Fridman is a key shareholder in the LetterOne investment fund, which controls the Spanish supermarket chain Dia. According to El Mundo, in his letter, the businessman argued that the Dia chain in Spain has more than 2,300 stores, which generate an economic impact of €6.8 billion and support the employment of about 100,000 people.

In the letter, Friedman argues that if he resumes his participation in the management of the group, from which he is currently removed, his return will be an “important guarantee” for the implementation of the five-year strategic plan. It envisages the opening of 300 new stores and annual investments of around €180 million until 2029.

According to El Mundo, the businessman has already gained the support of Hungary, Slovakia, and Luxembourg for the lifting of sanctions. Italy, Greece, Austria, and Croatia are also in favor of this move, while Latvia is opposed to it due to Friedman's connection with another co-founder of Alfa Group, Latvian citizen Peter Aven, who is under sanctions.

Sanctions against Friedman and Aven were imposed shortly after russia's full-scale invasion of Ukraine. The European Union believes that the businessmen are part of Putin's inner circle. Both filed lawsuits to have the sanctions lifted, but were only able to achieve a review of the grounds for extending the sanctions (which takes place every six months) – the restrictions themselves remained in force.

The sanctions forced Friedman and Aven to relinquish control of the LetterOne investment group and leave its board of directors. In addition, in 2024, Friedman and Aven sold their stakes in Alfa Bank and Alfa Insurance. In August 2024, the EU Council once again refused to lift the sanctions against Friedman.

Source: El Mundo