The EU will be able to renew its sectoral sanctions against Russia after Hungary abandoned its veto threat, which it had linked to energy concerns. View on euronews

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.

Should EU foreign ministers fail to renew the sanctions by January, diplomats say there is still enough time to call an had-hoc emergency EU summit

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.

The sanctions up for renewal include all sector-based bans on trade as well as the measures that immobilised Russia's central bank assets. Legally, EU countries must unanimously vote to renew these restrictions every six months.

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

Sikorski believes that Budapest changed its mind after Trump called Russian dictator Vladimir Putin as an aggressor and threatened Moscow with sanctions if it did not engage in peace talks. It was the new US president's first clear position on Russia's war against Ukraine.

Hungary avoided a clash with the EU thanks to a last-minute deal that secures its access to Russian gas at a closed-door meeting on January 27. Hungarian Foreign Minister Péter Szijjártó has stated that Hungary agreed to extend sanctions against Russia after the EU provided it with 'commitments' related to energy security,