European Union member states have agreed to extend sanctions against Russians, including several billionaires. Hungary and Luxembourg have dropped their demands to exclude Mikhail Fridman, Bloomberg reports.

The European Union agreed on Friday to renew sanctions on Russian individuals and entities but kept Russian tycoon Mikhail Fridman on the list despite pressure from Hungary, EU diplomats said. EU sanctions must be renewed every six months in a unanimous vote by the 27 member states' ambassadors to Brussels.

European Union member states agreed to extend sanctions on individual Russians, including a number of billionaires, after Hungary dropped its opposition.

The EU has agreed to extend sanctions against Russia for another six months. Hungary is ready to give the "green light" if three individuals are excluded from the sanctions list, according to a statement by Radio Free Europe / Radio Liberty correspondent Rikard Jozwiak,

A source familiar with the matter has told European Pravda that EU ambassadors agreed on Friday 13 March to extend a number of EU sanctions against Russia after reaching an agreement with Hungary. Source: European Pravda Details: The source said the decision was made in writing.

Hungary has used its veto to force the lifting of EU sanctions on several Russians, several diplomats confirmed to dpa on Friday. One of the Russians involved is oligarch Viatcheslav Moshe Kantor, a major shareholder in one of Russia's largest fertilizer manufacturers who has close ties to President Vladimir Putin.

Hungary has withdrawn its veto, allowing the European Union to renew sanctions on more than 2,400 individuals and entities, mostly from Russia, just two days before the measures were set to expire. The breakthrough came on Friday morning,

The clock for renewal was ticking fast as sanctions on Russian individuals and companies were set to expire by midnight on Saturday. View on euronews