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.

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.

Hungary has agreed to drop its veto and allow the renewal of the sanctions that the European Union has imposed on more than 2,400 individuals and entities, mainly from Russia, in response to the full-scale invasion of Ukraine.