Consider what it takes to reach such a decision - it's normal (unfortunately or not) to hack even your allies (see Germanys chancellor Merkel phone tap).
Now, Russia is an especially valued ally, getting preferential treatment.
From the European point of view, their governments need to consider that the US government and its intelligence services may be compromised.
"The order does not apply to the National Security Agency, which Haugh also leads, or its signals intelligence work targeting Russia, the sources said."
Tapping Putin's phone is still in the cards.
Presumably the goal is to collect SIGINT on the rest of the oligarchs and then share that with Putina.