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.

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

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 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.

The EU has renewed sanctions against Russia despite Hungary's initial objections, following assurances on energy-related issues and amidst Belarus election controversy.

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.

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.

This decision followed a prolonged delay attributed to Hungary's objections, which has sought to revive a gas transit deal for UkAfter weeks of delays, Hungary finally allowed the EU to renew sanctions on Russia for another six months.