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.

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.

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.

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.

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 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.

Hungary wants the European Union to persuade Ukraine to resume gas transit from Russia to Europe, Prime Minister Viktor Orban said on Friday, signalling a tough debate as the EU seeks to extend its sanctions against Russia over the coming week.