Hungary demands lifting of sanctions on Mikhail Fridman

According to the Financial Times, Hungary is insisting on the removal of Russian oligarch Mikhail Fridman from the sanctions list in exchange for agreeing to extend restrictions on another 2,000 Russians.

Expiring sanctions deadline

Sanctions, which include entry bans and asset freezes for individuals supporting Russia's war against Ukraine, are in effect until 15 March. However, extending them for six months requires a unanimous decision from all 27 EU member states.

Budapest's ultimatum

According to informed sources, Hungary's ambassador to the EU demanded that Fridman be removed from the list as a condition for supporting the extension of sanctions. The oligarch, who made his fortune in Russia, has been living in London for 10 years.