European Union foreign ministers agreed on Monday to extend sanctions on Russia over its war against Ukraine after Hungary lifted its opposition to the move.Budapest had been stalling the decision since December when Prime Minister Viktor Orban told EU leaders he wanted to wait for Donald Trump’s inauguration before deciding whether to agree to roll over the restrictions.

The EU will extend its existing sanctions against Russia after Hungary withdrew its threat to block the rollover, according to people briefed on the decision. Viktor Orbán, Hungary’s Russia-friendly prime minister,

The European Union has agreed to prolong for 6 months a raft of sanctions aimed at depriving Russia of funds to finance its war against Ukraine.

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.

The EU countries have reached a compromise on the extension of anti-Russian sanctions, Hungary is expected to withdraw objections to this decision in exchange for the provision of The EU on Energy security guarantees.

BRUSSELS – Hungary removed its veto on the EU's six-month extension of Russia sanctions on Monday, but it may not be its last standoff. The deal was struck after the EU agreed to issue a joint, non-binding statement by top diplomat Kaja Kallas and the European Commission to support Hungary's energy security at Monday's meeting of foreign ministers.

Hungary has dropped its threat to prevent EU sanctions against Russia from being rolled over for another six months.

Hungary's representatives have not yet agreed to a decision on the extension of EU sanctions against Russia. The issue will be considered at an EU Council meeting at foreign minister level on Monday,

Should EU foreign ministers fail to renew the sanctions by January, diplomats say there is still enough time to call an had-hoc emergency EU summit

Hungary wants the European Union to intervene in a gas dispute it has with Ukraine, a potential sign of friction in the bloc’s upcoming discussions over renewing sanctions against Russia.

BRUSSELS - The European Union renewed its wide-ranging sanctions on Russia on Monday for another six months after Hungary stopped holding up the move in return for assurances about energy security. Read more at straitstimes.