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

The European Union requires a unanimous vote to extend sanctions on Russia, a situation Hungary's Viktor Orban wants to use to pressure the bloc into forcing Ukraine to reopen a transit pipeline for Russian gas.

European Union foreign ministers agreed on Monday to extend sanctions on Russia over its war against Ukraine after Hungary lifted its opposition to the move.Most Read from BloombergWhat Happened to Hanging Out on the Street?

Hungary is imposing conditions on Ukraine in return for agreeing to the extension of the EU's economic sanctions on Russia, which expire at the end of the month. Prime Minister Viktor Orbán said on state radio that Kiev should reopen the pipeline that was closed at the beginning of the year and had previously transported Russian natural gas to Central Europe,

The European Union is facing another potential showdown with Hungarian Prime Minister Viktor Orban over his refusal to sign off on an extension of sanctions on Russia over its war against Ukraine.

It’s hard to find a more hypocritical political class in the wide world than that of the Brussels bureaucrats. They demand that we sever ourselves from Russian gas, meanwhile, more Russian LNG is coming to Western Europe than ever before,

Hungarian Prime Minister Viktor Orban called on the European Union to pressure Ukraine to re-establish the transit of Russian gas to Europe and linked the issue to extending sanctions against Moscow.