EU extends sanctions against Russia, addresses Hungary’s concerns
Date
1/28/2025 4:29:06 AM
(MENAFN) On Monday, the European Union agreed to extend its sanctions against Russia for six more months. The sanctions were aimed at depriving Russia of the funds it needs to continue financing its war against Ukraine. This decision came after Hungary, which had previously objected to the extension, lifted its objections. The sanctions cover a broad range of sectors including trade, finance, energy, technology, industry, transport, and luxury goods. One of the key measures is a ban on the import or transfer of seaborne crude oil and certain petroleum products from Russia to the EU. These sanctions will now remain in place until at least July 31.
Some of the measures had been implemented as early as 2014 after Russia annexed Ukraine’s Crimean Peninsula. However, the sanctions expanded significantly following Moscow’s full-scale invasion of Ukraine nearly three years ago. The EU has maintained these sanctions as a way to pressure Russia to end its aggressive actions and prevent it from accessing critical resources to fund the war effort.
Last Friday, Hungarian Prime Minister Viktor Orbán criticized the European Union’s handling of a gas dispute between his country and Ukraine. He claimed that Ukraine’s decision to stop the transit of Russian gas into Central Europe had forced Hungary to seek alternative routes, leading to higher energy prices. Orbán called for the EU to intervene in the dispute.
In response to Orbán's concerns, the European Commission added a statement to Monday’s sanctions agreement. The Commission emphasized that it expects all third countries to respect EU energy security and warned that it may take further action to protect critical infrastructure, such as oil and gas pipelines, in the event of any security breaches.
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