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.

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.

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.

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,

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.

Hungary may approve the extension of sanctions against Russia in exchange for a statement that addresses the country's concerns about "energy security". — Ukrinform.

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

European Union foreign policy chief Kaja Kallas said she expected the bloc to renew its sanctions on Russia on Monday after Hungary signalled it would stop holding up the move in return for assurances about energy security.

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.