The EU will be able to renew its sectoral sanctions against Russia after Hungary abandoned its veto threat, which it had linked to energy concerns. View on euronews

Budapest’s U-turn follows Donald Trump’s warning to Moscow that it could face more curbs unless it ends war ‘soon’

The European Union renewed on Monday its wide-ranging sanctions on Russia over the war in Ukraine, after Hungary stopped holding up the move in return for a declaration on energy security.

The European Union will moved forward with a renewal on Russian sanctions after a deal was struck with Hungary, according to multiple reports.

Hungary, one of Russia’s main friends in the EU, had left its EU counterparts fuming over a refusal so far to approve the move.

Before reupping the sanctions, Budapest wanted to wait for Trump's inauguration, then insisted Brussels push Ukraine to reopen a gas pipeline running to Central Europe.

The European Union renewed its sanctions on Russia for another six months after Hungary received energy security assurances. Despite initial resistance, Hungary supported the decision, which prevents Moscow from financing its war efforts.

The sanctions up for renewal include all sector-based bans on trade as well as the measures that immobilised Russia's central bank assets. Legally, EU countries must unanimously vote to renew these restrictions every six months.

Hungary avoided a clash with the EU thanks to a last-minute deal that secures its access to Russian gas at a closed-door meeting on January 27. Hungarian Foreign Minister Péter Szijjártó has stated that Hungary agreed to extend sanctions against Russia after the EU provided it with 'commitments' related to energy security,