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

The sanctions target trade, finance, energy, technology, industry, transport and luxury goods and include a ban on seaborne crude oil.

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,

European Union foreign policy chief Kaja Kallas said she expected the bloc to renew its sanctions on Russia on Monday after Hungary signalled it would stop holding up the move in return for assurances about energy security.

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'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 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.

It’s hard to find a more hypocritical political class in the wide world than that of the Brussels bureaucrats. They demand that we sever ourselves from Russian gas, meanwhile, more Russian LNG is coming to Western Europe than ever before,