The European Union will moved forward with a renewal on Russian sanctions after a deal was struck with Hungary, according to multiple reports.
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 EU renewed sanctions on Russia and called for unity to respond to Donald Trump's transactional approach. The US president's warning to Moscow to end the war or face more penalties was more in line with EU policy.
In Central Europe, a nationalist bloc led by Hungary’s Viktor Orban is promoting the division of Europe, a development which ultimately benefits Russia. To combat this new nationalism, Europe must strengthen its resilience from within.
Turmoil in Europe's car sector could hit the central European economy and hurt banks' asset quality, S&P Global said on Tuesday, although it added that lenders were strong enough to withstand stress in their automotive portfolios.
"EU foreign ministers just agreed to extend again the sanctions on Russia. This will continue to deprive Moscow of revenues to finance its war," the bloc's foreign affairs chief Kaja Kallas wrote on X. The EU's 27 states have to agree unanimously to extend the sanctions every six months and the next deadline was looming on January 31.
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
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 European Medicines Agency (EMA) said on Monday it would no longer post on X and would use rival Bluesky instead, becoming the latest organisation to quit a social media platform that some have criticised for its content.
Europe must "be prepared" for potential trade tariffs from newly inaugurated U.S. President Donald Trump, the president of the European Central Bank told CNBC on Wednesday. After his inauguration, Trump told reporters that the EU has been "very,
Much of what happens in the EU in 2025 will hinge on the incoming U.S. presidency of Donald Trump. Speaking to EU officials over the last few weeks, they all seem to be waiting for his inauguration on January 20 to see what challenges his new administration might bring.
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