Switzerland has lifted sanctions against Russia from the list, due to the war in Ukraine, the Russian-Suzbek oligarch Alisher Ussnovo, 73, thus following the European Union’s decision. According to a document published on November 4th 2026 by the State Secretariat for Economic Affairs of Switzerland and secured by the Italian newspaper Corriere della Seraão, Usnovo’s name has been erased from the list of sanctioned persons.
Usnovo, who heads the USM group, owned important interests in the steel industry, mines, copper, cement, telecommunications and the digital sector. When sanctions were imposed in 2022, he was named one of the most influential and close businessmen with Russian President Vladimir Putin. According to then reasoning, his companies provided considerable revenue for the Russian state, making it an important figure for the country’s economy.
The document also cited his ties to former president and former Russian Prime Minister Dmitry Medvedev, who allegedly had used luxury residence under Usnovo’s control. On the list of reasons for imposing sanctions was also the ownership of the newspaper “Commersant,” which, after passing on into his hands, had received an apparently progovernmental editorial line.
Swiss sanctions list has also removed billionaire Russian-Israel businessman Mikhail Friedman, 62, born in Lviv, Ukraine. He is a co-founder of the group BAR Alfaʹ, one of the largest private conglomerates in Russia, with activities in the banking sector, insurance, retail trade and infrastructure.
Friedman is considered one of the richest men in Russia. In 2022, when the European Union imposed sanctions, which were later adopted by Switzerland, he was accused of benefiting from the Russian economic system and of having financially supported this system, also having circuit connections near the Kremlin.
After those decisions, sanctions in Europe for both businessmen remain in force only in the United Kingdom.
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Source Layer: Signal