EU extends sanctions on Russian oligarchs, despite Hungary's objections

The European Union has agreed to extend sanctions against Russian individuals and entities for another six months, maintaining pressure linked to Russia's invasion of Ukraine. Despite Hungary's attempts to remove certain individuals, including billionaire Mikhail Fridman, he remains on the sanctions list after negotiations led to the exclusion of only three names. This decision follows Hungary's previous resistance and demands related to the sanctions, which have been contentious under Prime Minister Viktor Orbán's pro-Russian stance. The EU currently has over 2,400 individuals and entities under sanctions, a system that requires unanimous approval from all member states every six months. Fridman, along with his business partner Petr Aven, has faced legal challenges regarding their sanctions status, with a recent EU ruling favoring them on insufficient evidence but still subject to further sanctions due to their business activities in Russia. The renewed sanctions reflect ongoing geopolitical tensions and the EU's commitment to its foreign policy objectives regarding Russia.