The European Union has extended its sanctions against Russia for another six months. This decision comes after Hungary agreed to the sanctions following initial objections related to energy security.

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

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

Kaja Kallas, the European Union's top diplomat, has hinted that the statement about energy security for Hungary, which in exchange supported the extension of sanctions against Russia, was symbolic. Source: Kallas at a press conference in Brussels on Monday,

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.

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.

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.

Hungarian Prime Minister Viktor Orban called on the European Union to pressure Ukraine to re-establish the transit of Russian gas to Europe and linked the issue to extending sanctions against Moscow.