Serbia & Montenegro won the battle for third place after defeating Croatia 85-69.
It was anyone's game heading into the last period, with Serbia & Montenegro holding only a slight advantage at 57-54.
An electric performance by Teymuraz Babunashvili (pictured) helped guide Russia into the final of the Termosteps U16 European Championship at the expense of Serbia & Montenegro on Saturday.
The 1.86m guard scored 20 points, had five assists and pulled down four boards as his team won 82-74 in the first semi-final in Spain.
Five players scored in double-digits as Serbia & Montenegro cruised to a 98-68 win over France in the Termosteps U16 European Championship in Spain.
Serbia & Montenegro secured a 2-1 record in Group F, good for second place and a berth in the semi-finals.
Serbia & Montenegro went level on 1-1 with Italy in Group F quarter-final round play, thanks largely to a superb all-round performance from Dejan Musli.
The 2.12m center recorded 20 points, 19 rebounds and two blocked shots in a 78-69 victory for the Serbo-Montenegrins.
Serbia & Montenegro
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Press contact: Jovo Maksimovic