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.

The EU will extend its existing sanctions against Russia after Hungary withdrew its threat to block the rollover, according to people briefed on the decision. Viktor Orbán, Hungary’s Russia-friendly prime minister,

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.

Hungary has dropped its threat to prevent EU sanctions against Russia from being rolled over for another six months.

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.

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.