The sanctions target trade, finance, energy, technology, industry, transport and luxury goods and include a ban on seaborne crude oil.

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

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.

The European Union is set to extend sanctions on Russia over its war against Ukraine on Monday, with Hungary ready to lift its opposition to the move, according to people familiar with the matter.

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 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.

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.

There was no joint statement by the European Union countries on the presidential elections in Belarus because of Hungary's position. This was reported today, January 27, by the European media.

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,

Hungary prolonged its blockage of the renewal of sanctions against Russia as Prime Minister Viktor Orban called on the European Union to pressure Ukraine to re-establish the transit of Russian gas to Europe.