Hungary will support a one-year extension of EU sanctions against Russia, according to Bloomberg

Hungary is prepared to support a 12-month extension of the European Union’s sanctions against Russia, marking a significant shift from its previous stance, which had been to block such a decision.

According to sources familiar with the situation, during a meeting of EU ambassadors, Budapest joined the group of countries that supported the proposal to extend the restrictions for one year. 

The final decision is to be submitted for consideration by the President of the European Council.

At the same time, an official representative of the Hungarian government stated that he cannot confirm this information at this time.

Previously, Hungary had consistently advocated for shorter extensions of the sanctions—typically six months—and had repeatedly used its veto power as a tool to exert pressure in negotiations within the EU.

Now its position is seen as a departure from its previous hardline stance, which the EU had linked to the policies of Viktor Orbán’s government.

Approval of the sanctions regime in the EU requires the unanimous support of all 27 member states, which effectively gives each country the right to block a decision.

Sanctions against Russia were imposed in response to the full-scale invasion of Ukraine in 2022 and are regularly extended by EU decision.

This was reported to Bloomberg by sources familiar with the situation.

The European Union plans to approve the 21st package of sanctions against Russia by the end of next week. The new restrictions are intended to increase economic pressure on the Kremlin and target key sources of funding for Russia’s war.

The European Union is considering adding about 20 additional tankers from Russia’s shadow fleet to the upcoming 21st package of restrictive measures to reduce Moscow’s oil revenues. The new sanctions are also planned to be extended to ships transporting liquefied natural gas to prevent the Kremlin from creating a similar shadow fleet for LNG. 

Ukraine has introduced a new package of sanctions against Russian commanders who directed missile strikes on Ukrainian cities, as well as against vessels providing military logistics for Russia.

Ukraine has rejected the idea of “associated” EU membership without voting rights, which had been discussed in European political circles. Volodymyr Zelenskyy stated that such a format is unfair and does not correspond to Ukraine’s role in European security.

The European Union has moved to the practical stage of preparing Montenegro’s accession treaty. The country continues on its path toward EU integration and has declared its intention to become a member by 2028.

Ukraine hopes that the European Union will open all six negotiation chapters on the country’s accession this year and anticipates the possibility of closing at least one of them by the end of the year. 

Ukraine may temporarily forego some of the benefits of EU membership to accelerate the accession process. Taras Kachka noted that such a step would help the country integrate into the EU more quickly.