EU to Renew Russia Sanctions Amid Hungary's Assurances on Energy Security

The European Union is expected to renew its sanctions on Russia following assurances about energy security from Hungary, which had previously stalled the process. The sanctions, vital for maintaining pressure on Russia over Ukraine, include trade bans and the freezing of Russian assets. Unanimous approval from EU members is required every six months for sanctions renewal.

The European Union's foreign policy chief, Kaja Kallas, announced the likely renewal of sanctions on Russia, set to take place on Monday, after Hungary indicated it would no longer obstruct the measure. Hungary secured energy security assurances to lift its hold, paving the way for continued sanctions related to Russia's involvement in Ukraine.

Kallas, addressing reporters as she arrived for a meeting of EU foreign ministers, emphasized the importance of rolling over the sanctions before the looming January 31 deadline. These sanctions encompass trade bans and freezing Russia's central bank assets, necessitating a unanimous vote among EU nations for biannual renewal.

Prime Minister Viktor Orban of Hungary had previously sought consultations with the United States before renewal decisions were made. However, amidst pressure from President Donald Trump to initiate peace talks with Russia, Hungary signaled readiness to approve at the ministers' meeting. The decision also involves energy security guarantees from the European Commission, particularly for Hungary and Slovakia.

(With inputs from agencies.)