European Union Stops Imposing Sanctions on Prominent Russian Businessman

  Along with lifting sanctions on several Russian businessmen, the European Union also removed the use of the name oligarch for them. According to the YJC report, after lifting sanctions against three well-known Russian businessmen, the European Union announced in a statement, After this, they will not put the label "oligarch" on the names of these people. Oligarch is usually used for prominent businessmen close to Russia's president, most of whom have been sanctioned over the past year over the country's attack on Ukraine. European Union These entrepreneurs are often the ones who made huge profits from the privatization of industry after the collapse of the Soviet Union, and now the European Union, in its latest stance regarding these people, announced in a statement that it will henceforth use the neutral adjective “entrepreneur progressive" for these people.

The Council of the European Union has also changed some of the reasons for including 140 individuals and 41 entities linked to Russia on its sanctions list. Under the regulations, the European Union can impose sanctions on prominent businessmen active in Russia and entrepreneurs in the economic sector which is a significant source of income for the country. The European Council also revealed the identities of four Russian citizens who are now free from sanctions, one of whom has now died.