The EU Friday agreed to drop three Russian individuals from its sanctions list as the price for Hungary's Viktor Orban to drop a threat to veto Europe's sanctions against Russia.

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

The European Union has reached a deal with Hungary to renew sanctions on more than 2,400 primarily Russian entities and individuals hours before they were set to expire on March 15, an EU official with knowledge of the negotiations told the Kyiv independent.