On Monday, the European Union extended its comprehensive sanctions on Russia for another six months, asserting energy security after Hungary withdrew its opposition. The decision was shared by Kaja Kallas, the EU's foreign policy chief, on social media, stating, "Europe delivers: EU Foreign Ministers just agreed to extend again the sanctions on Russia." She emphasized that this action would hinder Moscow from funding its military actions and stressed the need for accountability: "Russia needs to pay for the damage they are causing."
Failure to renew these sanctions before the January 31 deadline would have significant repercussions, potentially leading to the release of Russian assets in Europe aiding Ukraine. The renewed sanctions cover sector-based trade bans and freeze assets of the Russian central bank, requiring unanimous approval every six months from EU member states.
Proceeds from the frozen assets are allocated towards a $50 billion loan for Ukraine supported by the G7. Hungarian Prime Minister Viktor Orban initially sought consultations with the Trump administration but later signaled willingness to support the continuation if assured aid from the European Commission regarding energy security. Despite Hungary's close ties with Russia, no direct mention of resuming Russian gas flows was noted.
The European Commission pledged to continue dialogue with Ukraine on gas pipeline systems and offered involvement to Hungary and Slovakia. Hungarian Foreign Minister Peter Szijjarto expressed contentment with the Commission's commitments, highlighting their dedication to safeguarding crucial oil and gas pipelines facilitating energy supply to EU member states.