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

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

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.

The European Union is set to extend sanctions on Russia over its war against Ukraine on Monday, with Hungary ready to lift its opposition to the move, according to people familiar with the matter.

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.

The EU countries have reached a compromise on the extension of anti-Russian sanctions, Hungary is expected to withdraw objections to this decision in exchange for the provision of The EU on Energy security guarantees.

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 has not yet decided whether to support the sanctions rollover due at the end of this month. The EU renews sanctions every six months and requires unanimity among its 27 member countries to do so.

The fate of the European Union’s sanctions against Russia were thrown into limbo after a top Hungarian official called for a “debate” and signaled their renewal by the end of the month shouldn’t be automatic.