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 European Union renewed on Monday its wide-ranging sanctions on Russia over the war in Ukraine, after Hungary stopped holding up the move in return for a declaration on energy security.

European Union foreign ministers agreed on Monday to extend sanctions on Russia over its war against Ukraine after Hungary lifted its opposition to the move.

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'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,

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.

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.